which of the following statements is true? Show
a) a decrease in supply causes equilibrium price to rise; the increase in the price results in a decrease in demand b) if both demand and supply increase there must be an increase in the equilibrium price; equilibrium quantity may either increase or decrease c) an increase in demand causes a change in equilibrium price; the change in price does not cause a further change in demand or supply d) if demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease w/out knowing which change is greater Which of the following would cause both the equilibrium price and equilibrium quantity to decrease?A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease. An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.
Which of the following would cause both the equilibrium price and equilibrium quantity of potatoes assume that potatoes are an inferior good to decrease?Which of the following would cause both the equilibrium price and equilibrium quantity of potatoes (assume that potatoes are an inferior good) to decrease? A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
Which of the following would cause both the equilibrium price and equilibrium quantity of wheat assume that wheat is a normal good to increase?The correct option is b.
The increase in demand shifts the demand curve to the right, leading to a rise in the equilibrium price and quantity.
Which of the following would cause both the equilibrium price and equilibrium quantity of barley?Which of the following would cause both the equilibrium price and equilibrium quantity of barley (assume that barley is an inferior good) to increase? According to the law of demand, an increase in the price of baseball trading cards causes: people to buy fewer trading cards.
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Which of the following would cause both the equilibrium price and equilibrium quantity of cotton
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