In a market economy, if the price of a good increases, the quantity demanded by consumers and the quantity supplied by producers will change in which of the following ways? a. quantity demanded by consumers will increase, quantity supplied by producers will increase b. quantity demanded by consumers will increase, quantity supplied by producers will decrease c. quantity demanded by consumers will decrease, quantity supplied by producers will increase d. quantity demanded by consumers will decrease, quantity supplied by producers will decrease which of these describes a characteristic of a monopoly? a. few barriers of entry b. rarely affected by government regulations c. strong control over price d. face strong competition for customers juanita and sarah made 100 t-shirts with a picture of their school’s basketball team to celebrate winning the division championship. they initially sold the t-shirts for $5 each. the t-shirts began selling quickly. juanita and sarah realized that $5 a shirt would not cover their costs, so they raised the price to $8 a shirt. as a result, sales declined and they had 20 unsold t-shirts at the end of the year. which term best describes what happened when juanita and sarah raised the price of the t-shirts? a. law of supply b. law of demand c. opportunity cost d. comparative advantage