This Question: 1 pt 40of65(41 complete) This Test:65 What is the effect on the e

Question

This Question: 1 pt 40of65(41 complete) This Test:65 What is the effect on the equilibrium price and equilibrium quantity of theater tickets if theater tickets become more popular and a largertheator is buit? The equilibrium pon of theater tidots _ and the equlbrinquantty du reat eA aways ises; increases ouTu. B. rises,falls, or remains the same; inareases ° C. does not change; does nt change O D' rises, falls, orremans the tanec doreases O E. always rises; decreases tmal.c ith lyrics rg as mp3 Click to select your answer 01/08/18 ASSESS Chapter 12 Quiz 100min MacBook Air 8 0

Explanation / Answer

The equilibrium price of theater tickets..............the equilibrium quantity.......

Correct Answer:- B:- Rise, fall or remain the same; increases

Reason:- When there is an increase in both the demand and the supply of a quantity, the equilibrium quantity increases, but the equilibrium price remains uncertain and it can rise, fall or even remains the same.

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