A increase in demand coupled with a simultaneous and bigger decrease in supply will cause equilibrium:
A. Price to go up and quantity to go down
B. Price to go up and quantity to go up
C. Price to go down and quantity to go down
D. Price to go down and quantity to go up
A. Price to go up and quantity to go down
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Per capita real GDP is a measure of
A) productive activity. B) economic welfare. C) cost of living standards. D) cultural harmony.
"A single-price monopoly will always charge a price that is on the elastic range of the demand for the monopoly's output." Explain why the previous statement is correct or incorrect
What will be an ideal response?
The future of any region dependent on export industrial growth is influenced by:
(a) the region's natural endowment at given technology levels. (b) the character of the export industry. (c) subsequent changes in technology and transport costs. (d) all of the above.
A limit price is never a predatory price
Indicate whether the statement is true or false