Question
Consider the market for baseball bats.Assume that all baseball bats are made from Maple trees.What will be the net effect on the price and equilibrium
Consider the market for baseball bats.Assume that all baseball bats are made from Maple trees.What will be the net effect on the price and equilibrium quantity of baseball bats of an expansion of a Maple Tree disease and the introduction of baseball to sports crazy China? (2)
a.An increase in both price and equilibrium quantity
b.An increase in price and a decrease in equilibrium quantity
c.A uncertain effect on price and an uncertain effect on equilibrium quantity
d.An increase in price and an uncertain effect on equilibrium quantity
e. A decrease in price
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