Suppose you are told that the equilibrium price of bananas has increased, while the equilibrium quantity of bananas has fallen. You are also told that either the demand changed or supply changed, but not both. Which of the following must have occurred?

A. Supply increased.
B. Supply decreased.
C. Demand decreased.
D. Demand increased.


Answer: B

Economics

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If the safety of the work environment has improved over time

What will be an ideal response?

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In which of the following models of firm behavior do firms make strategic pricing decisions and also charge a perfectly competitive price?

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