Q10
Assume that consumer's income and the number of sellers in the market for good X both falls. Based on this information, we can conclude with certaintty that the equilibrium
A.
Price will decrease
B.
Price will increase
C.
Quantity will decrease
AnswerD.
Quantity will increase
Answer: Option C
Solution
Answer: Option C
Solution:
We can conclude with certaintty that the equilibrium quantity will decrease.