Gas-powered hedge trimmers Price (P) S D Quantity (Q) The cost of labor rises in this industry. At the same time consumer tastes shift away from this product in favor of quieter or less-polluting alternatives. What is likely to happen in this market? Select one: O a. Price may rise or fall; Quantity will fall. O b. Price may rise or fall; Quantity will rise. O c. Price will rise; Quantity may rise or fall. d. Price will fall; Quantity may rise or fall.
Gas-powered hedge trimmers Price (P) S D Quantity (Q) The cost of labor rises in this industry. At the same time consumer tastes shift away from this product in favor of quieter or less-polluting alternatives. What is likely to happen in this market? Select one: O a. Price may rise or fall; Quantity will fall. O b. Price may rise or fall; Quantity will rise. O c. Price will rise; Quantity may rise or fall. d. Price will fall; Quantity may rise or fall.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Gas-powered
hedge trimmers
Price (P)
S
D
Quantity (Q)
The cost of labor rises in this industry. At the same time consumer tastes
shift away from this product in favor of quieter or less-polluting alternatives.
What is likely to happen in this market?
Select one:
O a. Price may rise or fall; Quantity will fall.
O b. Price may rise or fall; Quantity will rise.
O c. Price will rise; Quantity may rise or fall.
O d. Price will fall; Quantity may rise or fall.
Clear my choice
Check](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2a16eb17-cccd-4ee4-b61b-26971af7940c%2Ff1a5fe1f-8133-46aa-8c2e-94d5480f9ade%2Fvapvat8_processed.png&w=3840&q=75)
Transcribed Image Text:Gas-powered
hedge trimmers
Price (P)
S
D
Quantity (Q)
The cost of labor rises in this industry. At the same time consumer tastes
shift away from this product in favor of quieter or less-polluting alternatives.
What is likely to happen in this market?
Select one:
O a. Price may rise or fall; Quantity will fall.
O b. Price may rise or fall; Quantity will rise.
O c. Price will rise; Quantity may rise or fall.
O d. Price will fall; Quantity may rise or fall.
Clear my choice
Check
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