If the price of a chocolate bar is $2.50, how does the market move to its equilibrium? As the market moves to its equilibrium, the price of a chocolate bar ________. A. rises, and the quantity demanded and quantity supplied both decrease B. rises, the quantity demanded decreases, and the quantity supplied increases C. falls, and the quantity demanded and quantity supplied both increase D. falls, the quantity demanded increases, and the quantity supplied decreases
If the price of a chocolate bar is $2.50, how does the market move to its equilibrium? As the market moves to its equilibrium, the price of a chocolate bar ________. A. rises, and the quantity demanded and quantity supplied both decrease B. rises, the quantity demanded decreases, and the quantity supplied increases C. falls, and the quantity demanded and quantity supplied both increase D. falls, the quantity demanded increases, and the quantity supplied decreases
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If the price of a chocolate bar is $2.50, how does the market move to its equilibrium?
As the market moves to its equilibrium, the price of a chocolate bar ________.
A.
rises, and the quantity demanded and quantity supplied both decrease
B.
rises, the quantity demanded decreases, and the quantity supplied increases
C.
falls, and the quantity demanded and quantity supplied both increase
D.
falls, the quantity demanded increases, and the quantity supplied decreases
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