Equilibrium price in the peach market has decreased, but equilibrium quantity has stayed the same. which of the following scenarios might explain this result? i. an increase in peach supply and a perfectly elastic peach demandii. an increase in peach supply and a perfectly inelastic peach demandiii. an increase in peach demand and a decrease in peach supply

(I.) An increase in peach supply and a perfectly elastic peach demand.

Explanation:

Equilibrium price in the peach market has decreased, but equilibrium quantity has stayed the same. The following scenario is possible only when  there is an increase in peach supply and a perfectly elastic peach demand.

This can be further explained using a graph:

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o