The figure to the right represents the market for coffee grinders. Assume that the market price is $21. Which of the following statement is true?
A. There will be a shortage that will cause the price to increase; demand will then decrease and supply will increase until the price equals $25.
B. There is a shortage that will cause the price to decrease; quantity demanded will then increase and quantity supplied will decrease until the price equals $25.
C. There is a shortage that will cause the price to increase; quantity demanded will then decrease and quantity supplied will increase until the price equals $25.
D. There is a shortage that will cause the price to increase; quantity supplied will then decrease and quantity demanded will increase until the price equals $25
Answers: 1
Other questions on the subject: Business
Business, 21.06.2019 13:00, mustachegirl311
Match the tasks with the professionals who would complete them. civil engineer, logging equipment manager and energy auditor
Answers: 3
Business, 21.06.2019 19:20, ellycleland16
Which of the following best explains why large companies have an advantage over smaller companies? a. economies of scale make it possible to offer lower prices. b. the production possibilities frontier is wider for a larger company. c. decreasing marginal utility enables more efficient production. d. increasing the scale of production leads to a reduction in inputs.2b2t
Answers: 1
Business, 22.06.2019 08:00, savannahworkman11
How do communism and socialism differ in terms of the role that government plays in the economy ?
Answers: 1
Business, 22.06.2019 12:00, kaylallangari549
In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of:
Answers: 2
Do you know the correct answer?
The figure to the right represents the market for coffee grinders. Assume that the market price is $...
Questions in other subjects:
Mathematics, 12.03.2020 22:35
