Multiple Choice
How does a lower price alleviate the problem of excess supply?
A) A lower price increases the number of potential sellers and the number of potential buyers.
B) A lower price increases the number of potential sellers and decreases the number of potential buyers.
C) A lower price decreases the number of potential sellers and the number of potential buyers.
D) A lower price decreases the number of potential sellers and increases the number of potential buyers.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: A demand shift to the right generally
Q48: If interest rates go up for a
Q49: An increase in oil prices may cause<br>A)
Q50: An increase in supply is shown graphically
Q51: Which is NOT an example of inelastic
Q53: When music downloading was introduced,what impact did
Q54: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4791/.jpg" alt=" Refer to the
Q55: When a demand curve shifts to the
Q56: After Hurricane Katrina,the supply curve for gasoline<br>A)
Q57: When does market equilibrium change in a