Solved

Which of the Following Statements Is Correct

Question 107

Multiple Choice

Which of the following statements is correct?


A) If demand increases and supply decreases,equilibrium price will fall.
B) If supply increases and demand decreases,equilibrium price will fall.
C) If demand decreases and supply increases,equilibrium price will rise.
D) If supply decreases and demand remains constant,equilibrium price will fall.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q102: A surplus of a product will arise

Q102: Refer to the</p></div><svg width=

Q103: Refer to the</p></div><svg width=

Q104: Refer to the</p></div><svg width=

Q106: Refer to the</p></div><svg width=

Q108: Refer to the</p></div><svg width=

Q108: If we say that a price is

Q109: In a competitive market the equilibrium price

Q110: An unusually large crop of coffee beans

Q111: Refer to the</p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents