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4 Sep 2018
2 Suppose consumers revise their expectations and now believe that fishing boat prices are going to increase next month instead of staying at current levels. What would be the expected impact on the current market price and market quantity of fishing boats? A. The market price would increase and the market quantity would decrease. B. Both the market price and market quantity would decrease. C. No prediction can be made without knowing the price elasticity of demand. D. Both the market price and market quantity would increase. E. The market price would decrease and the market quantity would increase
2 Suppose consumers revise their expectations and now believe that fishing boat prices are going to increase next month instead of staying at current levels. What would be the expected impact on the current market price and market quantity of fishing boats? A. The market price would increase and the market quantity would decrease. B. Both the market price and market quantity would decrease. C. No prediction can be made without knowing the price elasticity of demand. D. Both the market price and market quantity would increase. E. The market price would decrease and the market quantity would increase
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