Macmillan Learning Lumber and brick are substitutes in home construction. Consider the market for bricks depicted...

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Macmillan Learning Lumber and brick are substitutes in home construction. Consider the market for bricks depicted in the graph. Suppose the price of lumber increases due to new regulations for the logging industry. Shift one or both curves in the graph to illustrate the impact this change will have on the market for bricks. Equilibrium price increases. O decreases. O remains constant. O change is ambiguous. Equilibrium quantity ΟΟΟΟ O increases. O decreases. O remains constant. change is ambiguous. Price The Brick Market Quantity supply demand Macmillan Learning Lumber and brick are substitutes in home construction. Consider the market for bricks depicted in the graph. Suppose the price of lumber increases due to new regulations for the logging industry. Shift one or both curves in the graph to illustrate the impact this change will have on the market for bricks. Equilibrium price increases. O decreases. O remains constant. O change is ambiguous. Equilibrium quantity ΟΟΟΟ O increases. O decreases. O remains constant. change is ambiguous. Price The Brick Market Quantity supply demand

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