Multiple Choice
Other things being equal, the effects of an increase in the price of computers would best be represented by which of the following?
A) A movement up along the demand curve for computers.
B) A movement down along the demand curve for computers.
C) A leftward shift in the demand curve for computers.
D) A rightward shift in the demand curve for computers.
Correct Answer:
Verified
Correct Answer:
Verified
Q16: Exhibit 3-8 Demand and Supply Data for Video
Q17: Distinguish the laws of demand and supply.
Q18: In accordance with the law of supply,
Q19: Which of the following will not shift
Q20: According to the law of supply, when
Q22: The law of demand indicates that as
Q23: Other things being equal, the effect of
Q24: Suppose the prices of petroleum products, including
Q25: The horizontal summation of all individual demands
Q26: A reduction in production costs will not