Multiple Choice
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S)
Of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X.
If X is an inferior good, a decrease in income will
A) decrease D, decrease P, and decrease Q.
B) decrease D, decrease P, and increase Q.
C) increase S, decrease P, and increase Q.
D) increase D, increase P, and increase Q.
Correct Answer:

Verified
Correct Answer:
Verified
Q60: An improvement in production technology will<br>A) increase
Q61: A decrease in supply, holding demand constant,
Q62: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8601/.jpg" alt=" Refer to the
Q63: A firm's supply curve is upsloping because<br>A)
Q64: Suppose that tacos and pizza are substitutes,
Q66: "In the corn market, demand often exceeds
Q67: Producing a good in the least costly
Q68: Which of the following is consistent with
Q69: If price is above the equilibrium level,
Q70: An increase in the demand for corn