Multiple Choice
During the last decade, the price of a computer fell every year and the quantity sold increased every year. This experience suggests that the
A) ʺlaw of supplyʺ was definitely contradicted.
B) demand curve shifted rightward.
C) supply curve shifted rightward.
D) ʺlaw of demandʺ was definitely contradicted.
Correct Answer:
Verified
Correct Answer:
Verified
Q61: Consumers' income declines and, as a result,
Q90: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above figures
Q165: Wages for workers producing iPods and similar
Q166: In a supply and demand figure, the
Q168: In a market, at the equilibrium price,<br>A)
Q169: In the market for oranges, the demand
Q171: Cupcakes and granola bars are substitutes in
Q172: What is the effect on the price
Q173: A bakery can produce either cakes or
Q174: A surplus occurs when the price is<br>A)