his Question: 10 pts 10110(O complete) Di Quantity (note 5) Which graph above be

Question

his Question: 10 pts 10110(O complete) Di Quantity (note 5) Which graph above best represents what happens in the market for hotel rooms at a ski resort during the winter? O A. B, because fewer hotels would offer rooms, thereby shifting supply to the left 0 B. B because more hotels would offer rooms, thereby shifting supply to the left C. A, because more people would need accomodations, thereby shifting demand to the right. O D. A because fewer people would need accomodations, thereby shifting demand to the right From the graph that you picked, if hotel rates stayed at their summer level, the result would be a surplus Click to select your answer of hotel rooms FS F6 F8 F10 5 6 W E

Explanation / Answer

C is the correct option. More people want to ski, therefore shifting the demand curve to the right. Supply cannot change in short term, thereby increasing equilibrium prices and quanity.  

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