Multiple Choice
Assume two goods are substitutes.Ceteris paribus,a decrease in the price of one good will cause the equilibrium price of the other good to
A) Increase and the equilibrium quantity of the other good to increase.
B) Increase and the equilibrium quantity of the other good to decrease.
C) Decrease and the equilibrium quantity of the other good to increase.
D) Decrease and the equilibrium quantity of the other good to decrease.
Correct Answer:
Verified
Correct Answer:
Verified
Q76: If the market wage for fast-food restaurants
Q77: Ceteris paribus,if the price of a digital
Q78: An increase in the price of gasoline
Q79: Define the law of demand and explain
Q80: Individual consumers supply _ and purchase _.<br>A)factors
Q82: Markets require a physical location to permit
Q83: Which of the following is purchased in
Q84: The law of supply implies that<br>A)Supply curves
Q85: Government goods are delivered "free," which means
Q86: In a market economy,which of the following