Question

Consider the market for plastic deck chairs. Suppose many families go on a barbecue binge and buy new barbecue grills to use outside with their new deck chairs. Which of the following would occur?
a. There is an increase in supply which lowers the equilibrium price and increases the equilibrium quantity.
b. There is a decrease in supply which increases the equilibrium price and decreases the equilibrium quantity.
c. There is an increase in demand which increases the equilibrium price and equilibrium quantity.
d. There is a decrease in demand which lowers the equilibrium price and equilibrium quantity,

Answer 1

Answer:

I think it might be c

Explanation:

the demand is higher giving the company more money to upgrade the product