An increase in demand and an increase in supply will lead to
A) unambiguous increases in both price and quantity.
B) unambiguous decreases in both price and quantity.
C) an unambiguous increase in quantity, but the effect on price is indeterminate.
D) an unambiguous increase in price, but the effect on quantity is indeterminate.
C
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Changes in the health of the average person are relatively unimportant as an indicator of changes in the standard of living
Indicate whether the statement is true or false
What is the total profit to the monopolist from selling the goods separately?
a. $4,500 b. $6,300 c. $7,000 d. $6,200
Economic growth is represented by a:
A. leftward shift of a production possibilities curve. B. rightward shift of the long-run aggregate supply curve (LRAS). C. horizontal long-run aggregate supply curve (LRAS). D. downward shift of an aggregate production function.
The importance of the production possibilities curve is that it shows the different combinations of goods and services that a society can produce: (check all that apply)
a. efficiently. b. given a fixed amount of resources. c. given a fixed state of technology. d. given an unlimited amount of resources. e. when marginal benefit equals marginal cost. f. in a fully employed economy.