Which of the following would result from an increase in the supply of a good?
A. Both equilibrium price and quantity would rise.
B. Both equilibrium price and quantity would fall.
C. Equilibrium price would rise, and equilibrium quantity would fall.
D. Equilibrium quantity would rise, and equilibrium price would fall.
D. Equilibrium quantity would rise, and equilibrium price would fall.
You might also like to view...
A financial system is a means of bringing together savers and borrowers.
Indicate whether the statement is true or false.
Which is true regarding cyclical unemployment? i. Cyclical unemployment is positive at business cycle peaks. ii. Cyclical unemployment is negative at business cycle troughs. iii. Cyclical unemployment is zero at full employment
A) iii only B) i, ii and iii C) i and iii D) i only E) i and ii
In order for barter trades to occur, there must be a
A. singularity of interests. B. bargaining intermediary. C. double coincidence of wants. D. sufficient supply of cash.
Which of the following is used to explain why a consumer's willingness to buy Microsoft Office increases as the number of other people who use Microsoft Office increases?
A) diminishing marginal utility B) market failure C) the income effect of a price change D) network externalities