An increase in the equilibrium price of electricity can be caused by
A. A decrease in the demand for electricity.
B. An increase in the supply of electricity.
C. An increase in the quantity demanded of electricity.
D. An increase in the demand for electricity.
Answer: D
You might also like to view...
Which of the following is NOT a subgroup of the Federal Reserve System?
A) the Federal Open Market Committee B) the Federal Funds Market C) the Federal Reserve Banks D) the Board of Governors
The market for used cars is shown in the above figure. Neither buyers nor sellers can tell whether any given car is a lemon. Ten percent (10%) of all cars are lemons. Which of the following statements is TRUE?
A) All of the cars will be sold at $1,900. B) No cars will be sold. C) Only lemons will be sold at $1,600. D) Only lemons will be sold at $1,000.
Deciding not to buy any junk food at the grocery store while shopping for the week is:
A. an example of removing temptation in an effort to match present-oriented decisions more closely to future-oriented ones. B. an example of how individuals may compensate for the time inconsistency of their actions. C. an example of a tool people can use in order to enact the actions they say they want to make, but have a hard time making. D. All of these are true.
If a price reduction leads to larger total revenue, demand is
a. perfectly inelastic b. inelastic c. unit elastic d. elastic e. perfectly elastic