Multiple Choice
-Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good) ?
A) There was an increase in resource prices and income stayed constant.
B) There was a decrease in resource prices and income stayed constant.
C) There was an increase in resource prices and income decreased.
D) There was a decrease in resource prices and income increased.
Correct Answer:

Verified
Correct Answer:
Verified
Q51: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer
Q52: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to
Q53: As Jamal's income rises,his demand for pizza
Q54: Suppose the government decides that every family
Q55: The "voluntary bumping plan" used by airlines
Q57: The law of demand states that _and
Q58: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" Assume that Aline,Bentley,Calvin,and
Q59: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q60: Suppose that for a given good,demand decreases
Q61: One can determine producers' surplus if the