In each of the following cases, predict what will happen to the equilibrium price and quantity.
a. More sellers enter the market and consumer income decreases. The good is a normal good.
b. The price of a substitute good increases and sellers' options in other markets become less profitable.
c. A drought reduces the cotton harvest and cotton clothing falls out of favor with consumers.
d. The price of inputs in production rises and the price of a complement good falls.

Question

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The Answer of In each of the following cases, predict what will happen to the equilibrium price and quantity.
a. More sellers enter the market and consumer income decreases. The good is a normal good.
b. The price of a substitute good increases and sellers' options in other markets become less profitable.
c. A drought reduces the cotton harvest and cotton clothing falls out of favor with consumers.
d. The price of inputs in production rises and the price of a complement good falls.

In Each of the Following Cases, Predict What Will Happen