Question

In the market for local coffee, the price will ________ and the quantity will ________ if new coffee shops open and consumers' incomes decrease due to a recession.A)be indeterminate; decreaseB)be indeterminate; increaseC)increase; be indeterminateD)decrease; be indeterminate

Answer 1

The topic prompts us to think about the corn market: This enables the vendor to produce more goods

In this instance, the price change is uncertain; quantity rises. The amount or the price will invariably change whenever there is a shift in supply and demand. The price will always become uncertain when supply and demand are moving in the same direction. This is due to the fact that supply grows as demand declines and prices rise in tandem with rising demand. Because cherries are less expensive in this situation, she can purchase more to create pies. She can generate more due to this increase in capacity. Customers' preference for the new cherry pie will drive up demand, which will lead to an increase in cherry pie production. We are unable to forecast if the price will increase or decrease. Typically, prices rise in tandem with increases in product demand.

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