Answered: In the graph above, what letter…

Business

Economics

In the graph above, what letter indicates an increase in equilibrium price? О А OB Ос OD О Е

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The market for cruises is at its market equilibrium when two events occur: cruise companies increase the number of cruise ships, and at the same time, cruising becomes less popular. How does the market for cruises change? The equilibrium price of a cruise ________ and the equilibrium quantity of cruises _______. A. falls; might increase, decrease, or not change B. falls; increases C. rises; decreases D. might rise, fall, or not change; decreases
Do not use Ai
don't use chatgpt answer
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How would you work this?
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