What happens in the market for bike sharing if the supply of bikes increases by more than the demand for bikes increases? The equilibrium price of a bike ride will ________ and the equilibrium quantity of bike rides will _______. A. fall; decrease B. rise; increase C. fall; increase
What happens in the market for bike sharing if the supply of bikes increases by more than the demand for bikes increases? The equilibrium price of a bike ride will ________ and the equilibrium quantity of bike rides will _______. A. fall; decrease B. rise; increase C. fall; increase
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 2PA
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What happens in the market for bike sharing if the supply of bikes increases by more than the demand for bikes increases?
The equilibrium price of a bike ride will ________ and the equilibrium quantity of bike rides will _______.
A.
fall; decrease
B.
rise; increase
C.
fall; increase
D.
rise; not change
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