Which of the following would cause an increase in the equilibrium price and decrease in the equilibrium quantity of watermelon?
A) an increase in demand and an increase in supply greater than the increase in demand
B) a decrease in supply
C) an increase in demand and an increase in supply
D) a decrease in demand and an increase in supply
B
You might also like to view...
Macroeconomics simply focuses on the annual performance of a particular national economy and ignores its interactions with other national economies around the world
a. True b. False Indicate whether the statement is true or false
Answer the following questions true (T) or false (F)
1. The enjoyment or satisfaction people receive from consuming goods and services is called utility. 2. If by purchasing more apples and fewer oranges you increase your total utility, then apples must be cheaper than oranges. 3. Economists assume people's tastes are identical.
Use the figure below to answer the following question.
What is the amount of consumer surplus after the government imposes the excise tax on the market?
A. $162 B. $486 C. $540 D. $144
The following graph depicts demand. 
The price elasticity of demand at point D is:
A. 2/5. B. 2. C. 1/2. D. 5/2.