Suppose state governiments, in an attempt to help save family farms, issued licenses that ellowed family tarms to grow a heretofore-tiegai substence Asa result, in the mariker for mssubstanceMultiple Choiceequilibrum pnice will fal and equlibrum qusntity will seboth equibrum price and quentity wil falboth equilibrum price and quentity will riseequilibrium price wil riae and equilibrium quentity wil fall

When demand rises, equilibrium price and equilibrium quantity, both rise, and vice versa. When…

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equilibrium price wil fell and equibrum quantity will ise

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elasticity And Its Application

Section: Chapter Questions

Problem 4CQQ

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Suppose state governiments, in an attempt to help save family farms, issued licenses that ellowed family tarms to grow a heretofore-tiegai substence Asa result, in the mariker for ms
substance
Multiple Choice
equilibrum pnice will fal and equlibrum qusntity will se
both equibrum price and quentity wil fal
both equilibrum price and quentity will rise
equilibrium price wil riae and equilibrium quentity wil fall

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