Which of the following events must cause equilibrium price to rise?
a. demand increases and supply decreases
b. demand and supply both decrease
c. demand decreases and supply increases
d. demand and supply both increase
a
You might also like to view...
A new 2015 Honda Civic produced in 2015 and purchased in 2016 is
A) part of GDP in 2015. B) part of GDP in 2016. C) not part of GDP in either year because it was produced in one year and sold in another year. D) part of GDP in both 2015 and 2016.
Deadweight loss refers to the reduction in economic surplus resulting from a market not being in competitive equilibrium
Indicate whether the statement is true or false
Which of the following is a tool of commercial policy?
a. Corporate income tax b. Payroll tax c. Excise duty d. Tariff e. Octroi duty
The legislation which made it illegal to monopolize a market was the:
A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Celler-Kefauver Act.