A flood decreases the quantity of roses supplied by 90 roses a day at each price. How does the rose market move to its new equilibrium?   As the market moves to its new equilibrium, the price ________ and the quantity demanded ________.     A. rises; increases   B. falls; increases   C. falls; decreases   D. rises; decreases

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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A flood decreases the quantity of roses supplied by
90
roses a day at each price. How does the rose market move to its new equilibrium?
 
As the market moves to its new equilibrium, the price ________ and the quantity demanded ________.
 
 
A.
rises; increases
 
B.
falls; increases
 
C.
falls; decreases
 
D.
rises; decreases
The table shows the demand and supply schedules for roses.
Quantity
demanded Quantity supplied
(roses per day)
510
540
570
600
630
Price
(dollars
per rose)
1.45
1.70
1.95
2.20
2.45
600
540
480
420
360
Transcribed Image Text:The table shows the demand and supply schedules for roses. Quantity demanded Quantity supplied (roses per day) 510 540 570 600 630 Price (dollars per rose) 1.45 1.70 1.95 2.20 2.45 600 540 480 420 360
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