Question
A market is in equilibrium.Some changes occur that allow you to predict a definite decrease in the equilibrium quantity, but you cannot state what will
A market is in equilibrium.Some changes occur that allow you to predict a definite decrease in the equilibrium quantity, but you cannot state what will happen to equilibrium price.Which of the following would be consistent with this scenario?
Group of answer choices
There is an improvement in technology, there is a decrease in the number of firms, and an increase in income.
There is an expectation by consumers of a higher price, an increase in the cost of an input, and a decrease in government regulation.
Consumers expect higher income, there is an improvement in technology, and there is an increase in government regulation.
There is an increase in the price of a complement, a decrease in the price of a substitute in production, and firms expect a lower price.
An excise tax is imposed, there is a decrease in the number of consumers, and firms expect a higher price.
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