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. Refer to the given information.An increase in income,if X is a normal good,will:
A) increase D,increase P,and increase Q.
B) increase D,increase P,and decrease Q.
C) increase S,increase P,and increase Q.
D) decrease D,increase P,and increase Q.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: If X is a normal good, a
Q33: In moving along a demand curve,which of
Q35: If products C and D are close
Q41: If an effective ceiling price is placed
Q69: If price is above the equilibrium level,
Q120: Camille's Creations and Julia's Jewels both sell
Q166: An effective price floor will<br>A) force some
Q181: In constructing a demand curve for product
Q250: When the price of a product falls,
Q287: Digital cameras and memory cards are<br>A) substitute