Multiple Choice
An increase in the demand for a good will cause
A) an increase in equilibrium price and quantity.
B) a decrease in equilibrium price and quantity.
C) an increase in equilibrium price and a decrease in equilibrium quantity.
D) a decrease in equilibrium price and an increase in equilibrium quantity.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: Most of the goods and services in
Q12: Before Sam quit his job as a
Q13: The Internet has had very little impact
Q14: At a price of $299.95, the manufacturer
Q15: The costs of negotiating and enforcing contracts
Q17: The economic term for the costs associated
Q18: Transaction cost refer to the price paid
Q19: The function of a firm is to
Q20: marginal benefit of pollution is equal
Q21: Mathematical economics involves the application of statistical