Two months ago, the Maryville Shirt company sold 2,000 shirts at $30 per shirt. Last month the company raised its price to $35 per shirt and sold 3,000 shirts. Evidently the company experienced a(n)
A) decrease in demand.
B) increase in demand.
C) decrease in supply.
D) increase in supply.
Correct Answer:
Verified
Q249: Last year the price of corn was
Q250: The "dynamic pricing" model used by the
Q252: Assume that the graphs show a competitive
Q254: Sometimes, we observe cases where the price
Q255: If an economy is being "productively efficient,"
Q256: Which of the following statements is correct?
Q297: The market system automatically corrects a surplus
Q301: A news story states that "DVDs lose
Q308: A decrease in the price of digital
Q315: A television station reports that the price
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