Assume that the demand curve for DVD players shifts to the left and the supply curve for DVD players shifts to the right, but the supply curve shifts more than the demand curve. As a result,
A) both the equilibrium price and quantity of DVD players will decrease.
B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease.
C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will increase.
D) the equilibrium price of DVD players will decrease; the equilibrium quantity will increase.
D
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NAFTA is an example of a free trade area consisting of the United States, Canada, Mexico, and the European Community
Indicate whether the statement is true or false
When a tax is placed on the buyers of a product, the
a. size of the market decreases. b. effective price received by sellers decreases, and the price paid by buyers increases. c. demand for the product decreases. d. All of the above are correct.
Who owns the Fed?
What will be an ideal response?
The demand for normal goods follows the law of demand because of
A. risk-aversion by consumers. B. the income effect only. C. the substitution effect only. D. both the substitution and income effects.