Multiple Choice
If the price of crude oil falls, the equilibrium price of petrol _______ and the equilibrium quantity _______.
A) rises; increases
B) falls; increases
C) rises; decreases
D) falls; decreases
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Which of the following is true?<br>A) An
Q9: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The above table
Q10: When income increases, the demand curve for
Q11: An unusually warm winter shifts the<br>A) supply
Q12: Which of the following shifts the demand
Q14: Which of the following will NOT shift
Q15: When demand increases, the equilibrium price _and
Q16: For normal goods, which of the following
Q17: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -In the figure
Q18: If both the demand and supply increase,