Let D = demand, S = supply, P = equilibrium price, and Q= equilibrium quantity. What happens in the market for tropical hardwood trees if the governments restrict the amount of forest lands that can be logged?
A) D no change, S decreases, P increases, Q increases.
B) S decreases, D no change, P increases, Q decreases.
C) D decreases, S no change, P and Q decrease.
D) D and S decrease, P and Q increase.
A) D no change, S decreases, P increases, Q increases.