If consumer preference for a product increases, this will cause the equilibrium price of the product to go down, and the equilibrium quantity of the product to go up.
Answer the following statement true (T) or false (F)
False
Economics
You might also like to view...
Public goods are not normally characterized by the following:
a. externalities b. market provision c. the free rider problem d. non-exclusion e. all the above characterize public goods
Economics
Economic growth is likely to entail:
A. a reduction in investment. B. a decrease in the capital stock. C. higher saving. D. lower saving.
Economics
If firms set wages too high, the result is unemployment.
Answer the following statement true (T) or false (F)
Economics
Inputs that can be increased or decreased in the short run are called
a. fixed inputs b. variable inputs c. economic inputs d. accounting inputs e. normal inputs
Economics