Multiple Choice
-If demand for a good is represented by curve D' in Figure 5-10,then a decrease in supply of the good will cause
A) both the equilibrium price and revenue to rise
B) both the equilibrium price and revenue to fall
C) the equilibrium price to rise,but revenue to fall
D) the equilibrium price to fall,but revenue to rise
E) neither the equilibrium price nor revenue to change
Correct Answer:
Verified
Correct Answer:
Verified
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