Suppose demand increases and supply decreases. Which of the following will happen?
a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease.
b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase.
c. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase.
d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease.
e. The change in equilibrium price and quantity cannot be determined.
C
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Using the information in Table 6.2, the Astro Consumer Price Index for 2014 is
A) 24. B) 100. C) 124. D) 189.
One of the monetary policy goals of the Federal Reserve is price stability
Indicate whether the statement is true or false
According to Robert Gordon, what led to the decline in unemployment in the 1940s?
A) structural barriers to expanding output and employment disappeared once a sufficiently large increase in aggregate demand had taken place B) decline in unionization of the workforce C) President Truman moving away from the policies implemented by President Roosevelt D) the strengthening of property rights following the end of the New Deal
Economies of scale occur where
a. long-run average cost falls as new firms enter the industry b. short-run average cost falls as new firms enter the industry c. long-run average cost falls as one firm expands plant size d. short-run average cost falls as one firm expands plant size e. long-run average cost rises as one firm expands plant size