In which of the following cases will the effect on equilibrium output be indeterminate (i.e., depend on the magnitudes of the shifts in supply and demand) ?
A) Demand increases and supply increases
B) Demand decreases and supply decreases
C) Demand decreases and supply increases
D) Demand remains constant and supply increases
Correct Answer:
Verified
Q7: input prices increase,all else equal,
A)quantity supplied will
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Demand:
Demand:
