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KengaRu [80]
2 years ago
12

Related to the Economics in Practice on page​ 77: If a hurricane results in the supply of hotel rooms decreasing and the demand

for hotel rooms​ increases, the equilibrium price for hotel rooms​ ________ and the equilibrium quantity of hotel rooms​ ________.
Business
1 answer:
UkoKoshka [18]2 years ago
5 0

Answer:

Increases; Ambiguous effect on equilibrium quantity

Explanation:

This situation states that the supply of hotel rooms decreases and the demand for hotel rooms increases due to the hurricane, so this change will shift both the supply curve and the demand curve in the hotel rooms market.

This will shift the supply curve leftwards and demand curve rightwards, therefore as a result, there is an increase in the equilibrium prices and the effect of this change on the equilibrium quantity is ambiguous because that will be dependent upon the magnitude of the shifts of demand and supply curve.

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4 0
3 years ago
Rugrat Company has the following information for the current year: Beginning fixed manufacturing overhead in inventory $190,000
inessss [21]

Answer:

$140,000

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