If supply increases and demand decreases, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A. lower; uncertain
B. higher; higher
C. lower; lower
D. higher; uncertain
Answer: A
You might also like to view...
Enacting a law controlling rents near a major university will increase the affordable housing for college students.
Answer the following statement true (T) or false (F)
One of the implications of the kinked demand curve model is that even if a firm's costs change by a measurable amount, market price is unlikely to change. This helps explain the price rigidity observed in many oligopolistic markets
Indicate whether the statement is true or false
John moved his office from a building he was renting downtown to the carriage house he owns in back of his house. How will his costs change?
a. explicit and implicit costs rise b. explicit costs rise; implicit costs fall c. explicit and implicit costs fall d. explicit costs fall; implicit costs rise e. not enough information is given
How many members can serve on the Board of Governors of the Federal Reserve System?
A. 9 B. 14 C. 7 D. 12