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Assume that consumer's income and the number of sellers in the...

This question belongs to Commerce Economics
Economics
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Assume that consumer's income and the number of sellers in the market for good X both falls. Based on this information, we can conclude with certaintty that the equilibrium

Answer & Solution
Correct Answer: Option C
We can conclude with certaintty that the equilibrium quantity will decrease.
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4 Comments
#Elvis The
#Elvis The 5 years ago
The price may not necessarily change but quantity will do
And if quantity is reduced then price will go up
DBIT SPU
DBIT SPU 6 years ago
how?
Chukwunyere Oluebube
Chukwunyere Oluebube 6 years ago
How
Ritika Maurya
Ritika Maurya 8 years ago
how
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