The market for corn flakes is in equilibrium, then a severe drought ravishes the

Question

The market for corn flakes is in equilibrium, then a severe drought ravishes the corn crop, at the same time it is revealed that the secret to Micheal Jordans basket ball success was that he eat corn flakes three times a day seven days a week. What effect will this have on market equilibrium price and quantity A) Equilibrium price rises but equilibrium quantity is indeterminate B) Equilibrium price falls but equilibrium quantity is indeterminate C) Equilibrium price is indeterminate but equilibrium quantity rises D) Equilibrium price is indeterminate but equilibrium quantity falls E) Both equilibrium price and quantity rise

Explanation / Answer

E) Both equilibrium price and quantity rise

because more people will be attracted to it now..!!

Plz.. do rate it first..!!

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.