Which of the following is true of the interaction of supply and demand?
a. As the price increases, the quantity demanded and the quantity supplied will increase.
b. As the price increases, the quantity demanded and the quantity supplied will decrease.
c. As the price increases, the quantity demanded increases and the quantity supplied will decrease.
d. As the price increases, the quantity demanded will decrease and the quantity supplied will increase.
e. As the price increases, neither the quantity demanded nor quantity supplied will change.
D
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Which of the following represents a function of money?
A) standard of deferred payment B) medium of exchange C) unit of accounting D) all of the above
If cash is deposited into a checking account, the supply of money increases
Indicate whether the statement is true or false
Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels. c. The price level remained constant during this period. d. Major wars resulted in high inflation rates, after which the inflation rate tapered off. e. Major wars resulted in high inflation rates that were usually followed by deflation.
Refer to the diagrams. The demand for Firm A's product is:
A. perfectly elastic over all ranges of output.
B. perfectly inelastic over all ranges of output.
C. elastic for prices above $1 and inelastic for prices below $1.
D. inelastic for prices above $1 and elastic for prices below $1.