Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?
A. An increase in supply.
B. A decrease in supply.
C. A decrease in demand.
D. An increase in demand.
Answer: A
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A) are not saving but instead are investing. B) have the government directing all their research and development. C) have non-democratic political systems. D) have the fastest growing exports and imports. E) have erected many trade barriers to protect domestic firms.
Deadweight losses are associated with monopolistic competition:
a. In the short run, but not the long run b. In the long run, but not the short run c. In both the short and long run d. In neither the short run nor the long run
If the industry depicted in the graph comprises only one seller, the profit-maximizing price and quantity will be
A. P3 and Q3. B. P1 and Q3. C. P2 and Q2. D. indeterminate on the basis of the information given.
If a person is risk averse, then she has negative marginal utility of wealth
Indicate whether the statement is true or false