Question

In response to rising car traffic, demand for bicycles has increased. The new equilibrium point will show

Group of answer choices

fewer bicycles sold, but at a higher price.

more bicycles sold, but at a lower price.

fewer bicycles sold, but at a higher price

more bicycles sold, but at a higher price.

Answer 1

Answer: fewer bicycles sold, but at a higher price

Step-by-step explanation: