When the demand and the supply for bread increases simultaneously, will we able determine their effects on the equilibrium quantity?
What will be an ideal response?
Yes An increase in the demand increases the equilibrium. An increase in supply also increases the equilibrium quantity. Together, both shifts in supply and demand will increase the equilibrium quantity.
You might also like to view...
If the number of employed people is 150 million, the number of unemployed people is 50 million, and the working-age population equals 285 million people, the labor force participation rate is
A) 70.2 percent. B) 81 percent. C) 17.5 percent. D) 25 percent. E) 52.6 percent.
The difference between a perfectly competitive firm's total revenue and its total cost is
A) always positive. B) always negative. C) always zero. D) greatest at the profit-maximizing level of output.
Attractive industries have all the following, except
a. High supplier power b. Low buyer power c. High entry barriers d. Low rivalry
___________________________—a term referring to the process of enacting laws that protect individual and entity rights to use their property as they see fit.
a. Property rights b. Rule of law c. Contractual rights d. Compliance rights