Refer to Scenario 3.2. The floods that destroyed part of the lettuce crop would have caused the equilibrium price of spinach to ________ and the equilibrium quantity of spinach to ________.

A) decrease; decrease
B) decrease; increase
C) increase; increase
D) increase; decrease

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Lettuce Crop

The cultivation and production of lettuce, a leafy green vegetable commonly used in salads and other dishes.