The market for blue jeans is in equilibrium. Blue jeans are a normal good for consumers. If a recession reduces consumers' incomes at the same time that the price of denim (an input in the making of...


I think (d) equilibrium quantity of blue jeans decreases is right?



The market for blue jeans is in equilibrium. Blue jeans are a normal good for consumers. If a recession<br>reduces consumers' incomes at the same time that the price of denim (an input in the making of blue<br>jeans) increases, we can say with certainty that as a result:<br>a the equilibrium price of blue jeans will decrease<br>the equilibrium price of blue jeans will increase<br>the equilibrium quantity of blue jeans will increase<br>the equilibrium quantity of blue jeans will decrease<br>

Extracted text: The market for blue jeans is in equilibrium. Blue jeans are a normal good for consumers. If a recession reduces consumers' incomes at the same time that the price of denim (an input in the making of blue jeans) increases, we can say with certainty that as a result: a the equilibrium price of blue jeans will decrease the equilibrium price of blue jeans will increase the equilibrium quantity of blue jeans will increase the equilibrium quantity of blue jeans will decrease

Jun 09, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here