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Answer the following questions. 10. An increase in the supply of housing accompanied by a decrease in the demand for housing leads to: a. an

Answer the following questions.

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10. An increase in the supply of housing accompanied by a decrease in the demand for housing leads to: a. an unambiguous increase in both the equilibrium price and quantity of housing b. a decrease in the equilibrium quantity of housing but the change in equilibrium price cannot be determined from the information given c. an unambigious decrease in both the equilibrium price and quantity of housing d. a decrease in the equilibrium price of housing but the change in equilibrium quantity cannot be determined from the information given. 11. What will happen to equilibrium price and quantity of DVDs if the price of DVD players decrease? 12. How will an increase in airfares affect recreational travel to another country? 13. Suppose the equation for demand can be expressed as P=10-2Q. The equation for supply can be expressed as P=Q. Find the equilibrium price and quantity

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