The following graph shows the market for microwavable ramen noodles. Pramen O Price increase, quantity decreases O Price stays the same, quantity decreases Price increases, quantity changes ambiguously Supply Price increases, quantity stays the same Demand Initially, the market is in equilibrium. Then, the price of microwaves decreases. At the same time, the number of firms making ramen decreases. Which of the following is true about the new price and quantity after both shifts? Qramen

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The following graph shows the market for microwavable ramen noodles. Pramen O Price increase, quantity decreases O Price stays the same, quantity decreases Price increases, quantity changes ambiguously Supply Price increases, quantity stays the same Demand Initially, the market is in equilibrium. Then, the price of microwaves decreases. At the same time, the number of firms making ramen decreases. Which of the following is true about the new price and quantity after both shifts? Qramen

 

 

The following graph shows the market for microwavable ramen noodles.
Parem
X
Demand
Initially, the market is in equilibrium. Then, the price of microwaves decreases. At the same time,
the number of firms making ramen decreases. Which of the following is true about the new price
and quantity after both shifts?
O Price increase, quantity decreases
O Price stays the same, quantity decreases
Price increases, quantity changes ambiguously
Price increases, quantity stays the same
Transcribed Image Text:The following graph shows the market for microwavable ramen noodles. Parem X Demand Initially, the market is in equilibrium. Then, the price of microwaves decreases. At the same time, the number of firms making ramen decreases. Which of the following is true about the new price and quantity after both shifts? O Price increase, quantity decreases O Price stays the same, quantity decreases Price increases, quantity changes ambiguously Price increases, quantity stays the same
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