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Answered

Look at the graph. A bookstore owner increases the price of art books to $25. Which of these would occur?



A higher equilibrium point, because demand and price increased

A lower equilibrium point, because the supply will increase

A shortage, because the price is lower than equilibrium price

A surplus, because the price is higher than equilibrium price

Only answer if you really know the answer please!

Look at the graph. A bookstore owner increases the price of art books to 25. Which of these would occur? A higher equilibrium point, because demand and price in class=

Verified Answer :

rockerdude

A surplus because the price is higher than the equilibrium price

reurisoneco

Answer:

A surplus, because the price is higher than equilibrium price

Explanation:

By raising the price of books to $ 25 the seller puts the price above the equilibrium price. This means that everything else consents, the supply will be 2500, while the demand will be 500, leaving a surplus of 2000.

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