4 5 6 Qution 3 Q4 *** + Price I Slide 5 of 6 Question 4 What would happen to equilibrium price and equilibrium quantity of khaki pants if... the price of the cloth used to make khaki pants falls? Price Price Qa Quantity Drag this circle and place it around the letter below for your answer. D Price Q Quantity a Quantity Describe the impact on equilibrium price and equilibrium quantity what happened, and why? (Type your answer here.) The equilibrium price will go down due to the price decline of cloth. Companies have the ability to make different products at lower prices, making the equilibrium quantity decrease because fewer khaki pants are being made. Q Notes Quantity Comments

4 5 6 Qution 3 Q4 *** + Price I Slide 5 of 6 Question 4 What would happen to equilibrium price and equilibrium quantity of khaki pants if... the price of the cloth used to make khaki pants falls? Price Price Qa Quantity Drag this circle and place it around the letter below for your answer. D Price Q Quantity a Quantity Describe the impact on equilibrium price and equilibrium quantity what happened, and why? (Type your answer here.) The equilibrium price will go down due to the price decline of cloth. Companies have the ability to make different products at lower prices, making the equilibrium quantity decrease because fewer khaki pants are being made. Q Notes Quantity Comments

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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