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Retnec Retnec
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7 years ago
In a market economy, if consumers suddenly stop buying 10-speed bikes and start buying 21-speed bikes,
A) the price of 10-speeds will tend to fall and more of them will be produced.
B) the price of 21-speeds will tend to rise, making them more profitable to produce and encouraging producers to supply more of them.
C) resources will tend to be shifted from the production of 21-speeds to the production of 10-speeds.
D) the price of 10-speeds will tend to rise, making them more profitable to produce and encouraging producers to supply more of them.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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VilaVila
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Retnec Author
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7 years ago
Thanksss
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