If demand decreases and supply increases
A) the market clearing price will decrease, and the equilibrium quantity will increase.
B) the market clearing price will decrease, and equilibrium quantity will decrease.
C) the equilibrium quantity will decrease, but the change in the market clearing price cannot be determined without more information.
D) the equilibrium price will decrease, but the change in the equilibrium quantity cannot be determined without more information.
D
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When people's incomes increase, the demand for a good increases. The good is called
A) an inferior good. B) a complement. C) a substitute. D) a normal good.
Graphically show why one electric company can operate more cheaply than two.
What will be an ideal response?
An answer to the question "For whom" determines:
A) tastes and preferences. B) how resources are combined in production. C) the kinds and quantities of goods produced. D) who gets the goods and services produced.
The majority of people with private health insurance get it
A. in groups. B. individually. C. along with one other person. D. at the grocery store.