Suppose that the market for engagement rings is in equilibrium. Then political unrest in South Africa shuts down the diamond mines there. South Africa is the world's primary supplier of diamonds. What will happen?

A. The supply of engagement rings will increase.
B. The equilibrium quantity of engagement rings will decrease.
C. The demand for engagement rings will decrease.
D. The equilibrium price of engagement rings will decrease.


Answer: B

Economics

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