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Sublight2097 Sublight2097
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8 years ago
Suppose the market clearing price for apples falls from $3.00 to $2.00 per pound, and the overall market clearing output decreases from 1 million to 1/2 million pounds. How can we explain the fall in price and fall in market output?
A) Supply decreased and demand remained unchanged.
B) Supply remained unchanged and demand decreased.
C) Demand increased and supply remained unchanged.
D) Demand remained unchanged and supply increased.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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8 years ago
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Sublight2097 Author
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#2
8 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
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#3
8 years ago
Another success story!

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