Suppose a recent and widely circulated medical article has reported new benefits of cycling for exercise. Simultaneously,

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Suppose a recent and widely circulated medical article has reported new benefits of cycling for exercise. Simultaneously, the price of the parts needed to make bikes falls. If the change in supply is greater than the change in demand, the price will ________________ and the quantity will
________________.

a. Rise, rise

b. Rise, fall

c. Fall, rise

d. Fall, fall

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Managerial Economics

ISBN: 9781337106665

5th Edition

Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward

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