ECONTuteNotes125.pdf - 398 Award 1.00 point A headline...

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398. Award: 1.00 point 399. Award: 1.00 point A headline reads "Perfect Weather Brings Record-High Coffee Harvest." This situation would lead to a(n) increase in the price and in the quantity purchased of coffee. decrease in the price and in the quantity purchased of coffee. increase in the price and a decrease in the quantity purchased of coffee. decrease in the price and an increase in quantity purchased of coffee. References Multiple Choice Difficulty: 02 Medium Learning Objective: 03-05 Explain how changes in supply and demand affect equilibrium prices and quantities. What will happen to the equilibrium quantity and price of salmon in a competitive market when there is an equal decrease in demand and supply? Equilibrium quantity and price will both increase. Equilibrium quantity and price will both decrease. Equilibrium quantity will decrease and equilibrium price will stay the same. Equilibrium quantity will stay the same and equilibrium price will increase.
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