When supply increases and at the same time demand decreases, we
A) can predict that both equilibrium price and quantity will increase.
B) can predict that both equilibrium price and quantity will decrease.
C) cannot predict equilibrium quantity, but know that equilibrium price will decrease.
D) cannot predict the change in either the equilibrium quantity or equilibrium price.
C
You might also like to view...
Some argue that many countries have observed the experience of other countries that have grown more quickly and have ______________ it.
a. collapsed because of b. learned from c. settled because of d. stalled because of
Of the 2.2 million working farms in the U.S., _________ of them produce more than $5,000 worth of agricultural products.
A. one quarter B. half C. three quarters D. one third
The benefits from free trade are not evenly distributed throughout an economy.
a. true b. false
Average variable costs fall continuously as quantity of output rises.
Answer the following statement true (T) or false (F)