Solved

Assume a Competitive Market Is in Equilibrium

Question 159

Multiple Choice

Assume a competitive market is in equilibrium.There is an increase in demand,but no change in supply.As a result the equilibrium price ________,and the equilibrium quantity ________.


A) rises; increases
B) rises; does not change
C) falls; does not change
D) falls; decreases
E) falls; increases

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q133: What is the difference between a normal

Q154: Pizza and tacos are substitutes,and the price

Q155: Oil refiners can refine a barrel of

Q156: Consider the market for leather shoes.If producers

Q157: Smart phones are becoming less expensive as

Q158: The United Auto Workers bargained for higher

Q160: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -In the above

Q161: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The graph illustrates

Q163: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The above figure

Q164: The law of supply states that,other things