If demand increases while supply decreases, then the equilibrium price
A) always increases.
B) always decreases.
C) may increase, decrease, or stay the same.
D) never changes.
Answer: A
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Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
An action that is the best choice under all conditions is known as the
A) profit-maximizing strategy. B) prisoner's dilemma. C) tit-for-tat strategy. D) dominant strategy.
When you are able to supply others with goods and services they value highly relative to your opportunity costs,
What will be an ideal response?
Refer to the information provided in Figure 16.6 below to answer the question(s) that follow. 
Figure 16.6Refer to Figure 16.6. In the top portion of the figure are the demand curves of two people in this society for a public good. Which of the panels represents the market demand curve for the public good?
A. Panel A B. Panel B C. Panel C D. Panel D