Watch Out for RisingDry-Cleaning Bills

The price ofdry-cleaning solvent doubled and more than4,000 dry cleaners disappeared as consumers cut back. The price of hangers used by dry cleaners is now expected to double.

Source: CNNMoney, June4, 2012

a. Explain the effect of rising solvent prices on the market for dry cleaning.

b. Explain the effect of consumers becoming more budget conscious along with the rising price of solvent on the price of dry cleaning.

c. If the price of hangers does rise thisyear, do you expect additional dry cleaners todisappear? Explain why or why not.

Rising solvent prices_______ the price of dry cleaning and________ the quantity of dry cleaning.

Watch Out for Rising DryCleaning Bills The price of drycleaning solvent doubled and more than 4,000 dry cleaners disappeared as consumers cutback. The price of hangers used by dry cleaners is now expected to double. a. Explain the eect of rising solvent prices on the market for dry cleaning. h. Explain the eect of consumers becoming more budget conscious along with the rising price of solvent on the price of dry cleaning. c lfthe price of hangers does rise this year, do you expect additional dry cleaners to disappear\"? Explain why or why not. Rising solvent prices the price of dry cleaning and the quantity of dry cleaning. 0 A. lower; decrease O B. lower; increase 0 (I. raise; decrease O D. raise; increase Click to select your answer and then click Check Answer. parts -' remaining Clear All