The number of companies making shoes decreases. As a result, the equilibrium price of a pair of shoes________ and the equilibrium quantity________ .
A) rises; decreases
B) falls; increases
C) falls; decreases
D) rises; increases
Correct Answer:
Verified
Q19: Jelly beans and popcorn are substitutes. A
Q20: Country X devoted 70 percent of its
Q21: Shoes are a normal good and peopleʹs
Q22: An increase in the amount of capital
Q23: The accumulated loss of output that results
Q25: An increase in the population will _potential
Q26: The circular flow model shows that GDP
Q27: The labor force is defined as
A) all
Q28: _increases real GDP.
A) An increase in employment
B)
Q29: GDP is defined as
A) generally demanded product.
B)
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