For a given upward-sloping supply curve, an increase in demand for chocolate chips will result in a:
a. ?lower equilibrium price and a higher equilibrium quantity.
b. ?higher equilibrium price and a lower equilibrium quantity.
c. ?lower equilibrium price and a lower equilibrium quantity.
d. ?higher equilibrium price and a higher equilibrium quantity.
e. ?decrease in the quantity supplied of chocolate chips.
Ans: D. Higher equilibrium price and a higher equilibrium quantity.
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An increase in the demand for labor will ________ wages and ________ employment
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Based on the table and information in the previous question, which of the following is TRUE?
A) George prefers to make $15,000 with certainty than make the investment. B) George prefers making the investment than to make $15,000 with certainty. C) George is indifferent between making $15,000 with certainty and making the investment. D) As the investment has risk George should not make it under any circumstances.
A financial asset is considered ________ if it can be bought or sold in a financial market
A) liquid B) a bond C) a security D) a stock
The social insurance provided by the government is insurance against
a. floods, hurricanes, and other natural disasters b. loss of funds in private pension programs c. sizable income losses when people retire or when they become disabled or unemployed d. loss of value of stocks and bonds when corporations go bankrupt e. loss of funds in private pension plans, retirement annuities, and unemployment