Multiple Choice
The price of a product falls if
A) there is a shortage of the product.
B) demand for the product increases.
C) there is a surplus of the product.
D) supply of the product decreases.
E) demand for the product does not change.
Correct Answer:

Verified
Correct Answer:
Verified
Q190: The introduction of a cost-saving technology in
Q191: Total surplus equals consumer surplus plus producer
Q192: When consumers' incomes increase, the price of
Q193: Crude oil is an important input in
Q194: Property rights are a prerequisite for anything
Q196: Consumer surplus is the<br>A) the difference between
Q197: If the price of Pepsi rises, we
Q198: Rising prices provide incentives for businesses to
Q199: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1013/.jpg" alt=" Figure 4.2.3. -Look
Q200: The price at which there are no