The following will lead to a decrease in the equilibrium price and quantity:(A) Demand decreases; supply remains constant(B) Demand remains constant; supply decreasesMultiple ChoiceNone of the choices are correct.B onlyBoth the choices are correct.A only A hair salon offers three services: haircuts, colour treatments, and styling. The salon charges $40 for a cut, $65 for colouring, and $35for styling. Last month, the salon sold 68 haircuts, 34 colour treatments, and 22 styling sessions. If the salon's costs for the monthtotalled $2,850, what was its profit?Instructions: Round your answer to the nearest dollar.

Answer (1): D (A only) Explanation: If only the demand falls and the supply remains constant then…

The following will lead to a decrease in the equilibrium price and quantity: (A) Demand decreases; supply remains constant (B) Demand remains constant; supply decreases Multiple Choice None of the choices are correct. B only Both the choices are correct. O A only

The following will lead to a decrease in the equilibrium price and quantity: (A) Demand decreases; supply remains constant (B) Demand remains constant; supply decreases Multiple Choice None of the choices are correct. B only Both the choices are correct. O A only

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section3.3: The Market: Putting Supply And Demand Together

Problem 3ST

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Question

The following will lead to a decrease in the equilibrium price and quantity:
(A) Demand decreases; supply remains constant
(B) Demand remains constant; supply decreases
Multiple Choice
None of the choices are correct.
B only
Both the choices are correct.
A only

A hair salon offers three services: haircuts, colour treatments, and styling. The salon charges $40 for a cut, $65 for colouring, and $35
for styling. Last month, the salon sold 68 haircuts, 34 colour treatments, and 22 styling sessions. If the salon's costs for the month
totalled $2,850, what was its profit?
Instructions: Round your answer to the nearest dollar.

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