If the market supply decreases and, simultaneously, market demand increases, the new equilibrium will show:
A) market price will increase, decrease or remain the same and quantity exchanged will
Decrease.
B) market price will increase and market quantity exchanged will decrease.
C) market price will decrease and the quantity exchanged could increase, decrease or remain the same.
D) market price will increase and market quantity exchanged could increase, decrease or remain unchanged.
Correct Answer:
Verified
Q2: If the price of fish rises, then
Q4: Ceteris paribus, an increase in the supply
Q5: Which of the following statements is not
Q6: Suppose a new legislation is introduced and
Q7: Narrbegin Exhibit 4.1 Supply and demand
Q8: What are the effects of shifts in
Q10: Consider the market for apples. Assuming that
Q11: What are the effects of shifts in
Q29: Which of the following would raise both
Q175: Consider the market for grapes. An increase
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