Ask your own question, for FREE!
Finance 15 Online
justus:

If a certain type of clothing becomes more fashionable, we would expect its equilibrium price Select one: a. will decrease and quantity will remain constant b. and quantity will both decrease c. will increase and quantity will decrease d. will decrease and quantity will increase e. and quantity will both increase

justus:

e?

darkknight:

well being more fashionable in this context kinda means that it is becoming more popular so I would assume that the equilibrium and quantity should both increase

darkknight:

might want to clarify with justjm

justjm:

yes darkknight is right, demand increases due to popularity (consumer tastes and preferences) and both increase

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!