The graph illustrates the market for hoodies. Suppose the current price of a hoodie is $60 and 4 million hoodies a year are bought. What do you predict will happen to the price of a hoodie? G BI OA. The surplus of hoodies forces the price down. B. The price will not change because neither a shortage nor a surplus occurs. OC. It is impossible to say what will happen to the price of a hoodie OD. The shortage of hoodies forces the price up. Chane 8 D Take SAM S A 8AN Ta
The graph illustrates the market for hoodies. Suppose the current price of a hoodie is $60 and 4 million hoodies a year are bought. What do you predict will happen to the price of a hoodie? G BI OA. The surplus of hoodies forces the price down. B. The price will not change because neither a shortage nor a surplus occurs. OC. It is impossible to say what will happen to the price of a hoodie OD. The shortage of hoodies forces the price up. Chane 8 D Take SAM S A 8AN Ta
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 10PA
Related questions
Question
![The graph illustrates the market for hoodies.
Suppose the current price of a hoodie is $60 and 4 million hoodies a year are bought.
What do you predict will happen to the price of
a hoodie?
OA. The surplus of hoodies forces the price down.
B. The price will not change because neither a shortage nor a surplus occurs.
OC. It is impossible to say what will happen to the price of a hoodie.
O D. The shortage of hoodies forces the price up.
G
BI
REAS
m
8
Te
OR
Se on
N
MAN](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff4928fa8-2da3-4dc5-af52-ec0f67b39148%2Fb03d8bc9-b80f-4456-b2c2-79d3d051b65a%2Ftcg0p9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The graph illustrates the market for hoodies.
Suppose the current price of a hoodie is $60 and 4 million hoodies a year are bought.
What do you predict will happen to the price of
a hoodie?
OA. The surplus of hoodies forces the price down.
B. The price will not change because neither a shortage nor a surplus occurs.
OC. It is impossible to say what will happen to the price of a hoodie.
O D. The shortage of hoodies forces the price up.
G
BI
REAS
m
8
Te
OR
Se on
N
MAN
![100-
80-
Price (dollars per hoodie)
60-
40-
50
20-
04
0.0
15.0
2.0
4.0
6.0
8.0
Quantity (millions of hoodies per year)
S
D
10.0
G](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff4928fa8-2da3-4dc5-af52-ec0f67b39148%2Fb03d8bc9-b80f-4456-b2c2-79d3d051b65a%2F6ivxfnm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:100-
80-
Price (dollars per hoodie)
60-
40-
50
20-
04
0.0
15.0
2.0
4.0
6.0
8.0
Quantity (millions of hoodies per year)
S
D
10.0
G
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