3. The Market Forces of Supply and Demand
Using the Supply and Demand Curves to Find Equilibrium
Multiple Choice
Multiple ChoiceWhat happens in the market for online tutoring services if (1) the government decides to provide funding for online tutors and (2) the price of private tutoring, a substitute for online tutoring services, increases?
A
Equilibrium price rises, equilibrium quantity ambiguous
B
Equilibrium price ambiguous, equilibrium quantity falls
C
Equilibrium price falls, equilibrium quantity ambiguous
D
Equilibrium price ambiguous, equilibrium quantity rises
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