Which of the following statements is incorrect?
A) if demand increases and supply decreases, equilibrium price will rise
B) if supply increases and demand decreases, equilibrium price will fall
C) if supply declines and demand remains constant, equilibrium price will rise
D) if demand decreases and supply increases, equilibrium price will rise
Correct Answer:
Verified
Q185: In a free market system, what coordinates
Q186: Why is the ceteris paribus assumption so
Q187: An increase in the price of a
Q188: Which of the following would cause both
Q189: What are two types of markets? What
Q191: Which of the following statements is correct?
A)prices
Q192: What is a normal good? Give an
Q193: Given the following demand schedule, graph
Q194: Which of the following is NOT a
Q195: Demand for which of the following goods
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents