Refer to Figure 3-4. If the current market price is $25, the market will achieve equilibrium bySelected Answer:a price decrease, decreasing the quantity supplied and increasing the quantity demanded.Answers:a price decrease, decreasing the quantity supplied and increasing the quantity demanded.a price decrease, decreasing the supply and increasing the demand.a price increase, increasing the quantity supplied and decreasing the quantity demanded.a price increase, increasing the supply and decreasing the demand.
Question 182.5 out of 2.5 pointsTable 3-1Kona CoffeePrice per lb. (dollars)Luke's QuantityDemanded(lb.)Ravi'sQuantityDemanded(lb.)Rest ofMarketQuantity Demanded(lb.)MarketQuantityDemanded(lb.)$103023893326147685181285