Economics · Oct / Nov 2024 · Paper 13 · Question 16
2281Price changes
There is a number of cafés selling snacks and drinks in a city centre. Several of these cafés close due to their owners retiring. What is the likely effect on the prices and profits of the remaining cafés?
- Adecrease / decrease
- Bdecrease / increase
- Cincrease / decrease
- Dincrease / increase
As printed in the paper
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Correct answer: D. increase / increase
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