If incomes increase and the number of producers of batteries decreases, how will the equilibrium price and equilibrium quantity of batteries change?   The equilibrium price of a battery will ________ and the equilibrium quantity of batteries ________.     A. fall; might increase, decrease, or not change   B. fall; will decrease   C. rise; might increase, decrease, or not change   D. either rise, fall, or not change; will increase

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
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If incomes increase and the number of producers of batteries decreases, how will the equilibrium price and equilibrium quantity of batteries change?
 
The equilibrium price of a battery will ________ and the equilibrium quantity of batteries ________.
 
 
A.
fall; might increase, decrease, or not change
 
B.
fall; will decrease
 
C.
rise; might increase, decrease, or not change
 
D.
either rise, fall, or not change; will increase
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