An increase in the number of sellers of a good will, ceteris paribus, __________________ for that good
A) increase equilibrium price and quantity
B) increase equilibrium price and decrease equilibrium quantity
C) decrease equilibrium price and increase equilibrium quantity
D) decrease equilibrium price and quantity
E) increase demand
C
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Which of the following BEST describes macroeconomics?
A) It is not a social science because its predictions cannot be tested. B) It analyzes the aggregate effects on the national economy of the choices made by individuals, firms, and governments. C) It examines how the choices that individuals affect governments. D) It studies the choices that individuals and businesses make when coping with scarcity. E) Proving causation is never a problem for macroeconomics.
If MPPa/Pa= MPPb/Pb, then the firm should increase the usage of both input a and input b.
Answer the following statement true (T) or false (F)
A problem with the CPI is the presence of a substitution bias on the behalf of consumers
Indicate whether the statement is true or false
Refer to Figure 14.1. Other things equal, if the U.S. dollar increases in value relative to other currencies, this is best represented as a movement from
A) point X to point Y. B) point X to point Z. C) point Y to point Z. D) point Y to point X.