The market for Good A is in equilibrium. If there is a decrease in the price of an input used to produce Good A, the impact on the market for Good A will be
A. a decrease in equilibrium price and a decrease in equilibrium quantity.
B. a decrease in equilibrium price and an increase in equilibrium quantity.
C. no change in equilibrium price but an increase in equilibrium quantity.
D. a decrease in equilibrium price but no change in equilibrium quantity.
1
Expert's answer
2021-06-23T10:08:18-0400
B. a decrease in equilibrium price and an increase in equilibrium quantity.
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