What will be the effect on a market that starts in equilibrium of reduced consumer buying power, and subsequently, reduced human capital available to suppliers?a. quantity will increase but we cannot tell what happens to price compares to the initial positionb. both price and quantity decrease initially, followed by a further decrease in quantity and increase in pricec. price will increase but we cannot tell what happens to quantity compared to the initial position d. both events combine to cause price and quantity to end lower than at the initial equilibrium

Then try StudyFetch, the AI-powered platform that can answer your questions and teach you more about it!