What can cause the price of a good to rise?
A. An increase in demand or a decrease in supply
B. An increase in demand or an increase in supply
C. A decrease in demand or an increase in supply
D. A decrease in demand or a decrease in supply
A. An increase in demand or a decrease in supply
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Risk averse individuals will fully insure to avoid risk. ?
Answer the following statement true (T) or false (F)
The Gini ratio is a measure of
A) income inequality. B) wealth distribution. C) income distribution. D) income as compared to wealth.
Refer to the payoff matrix below. Which of the following is the pure -strategy Nash Equilibrium?
A) Set High Price/Set Low Price
B) Set Low Price/Set High Price
C) Set High Price/Set High Price
D) Set Low Price/Set Low Price
Which of the following decisions cannot be taken by a firm in a perfectly competitive market?
a. Market exit decision b. Market price of the product c. Quantity of output it can produce d. Entering a market