Question

If bell-bottom pants once again become stylish/fashionable then: a. the quantity supplied will decrease b. the quantity supplied will increase c. none of the above d. the price will decrease Clear my choice​

Answer 1

I think the option will d because the price will decrease

Answer 2

None of above

Explanation:

Change in demand and supply

• Certainly, the market equilibrium will shift if there is a change in supply, demand or both. Let us recall the factors that induce changes in demand and supply:

Change in demand

• A change in the demand for a product occurs due to a change in any one of the following factors:

1. Price of complementary goods
2. Price of substitute goods
3. Income
4. Tastes and preferences
5. Expected price change in future
6. Population

Change in supply

• A change in the supply of a product occurs due to a change in any of the following factors:

1. Prices of factors of production
2. Prices of other goods
3. State of technology
4. Taxation policy
5. Expected price change in future
6. Firm's goals
7. Number of firms