If supply decreases while demand is unchanged, the equilibrium price ____ and the equilibrium quantity ____. Question 16 options:
A. does not change; does not change
B. rises; decreases
C. rises; increases
D. falls; increases
E. falls; decreases
B. rises; decreases
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Which of the following could lead to a rightward shift of the demand curve for a good?
a. a decrease in the price of a substitute good b. an increase in the price of a complementary good c. a decrease in the price of the good, assuming it is a normal good d. an increase in the price of the good, assuming it is an inferior good e. expectations that the price of the good will rise in the future
Which rate is the rate lenders charge their most trustworthy business borrowers?
a. discount b. commercial c. prime d. LIBOR
The short-run aggregate supply curve shows ________ while the long-run aggregate supply curve shows ________.
A. potential output; the current inflation rate B. the current inflation rate; potential output C. potential output; aggregate spending D. output; aggregate spending
Which of the following statements is correct?
A. When marginal utility is decreasing, an increase in the quantity consumed will decrease total utility B. When marginal utility is positive, an increase in the quantity consumed will decrease total utility C. When marginal utility is positive, an increase in the quantity consumed will increase total utility D. When marginal utility is zero, an increase in the quantity consumed will make total utility zero