Falling prices for a service
A) create incentives for consumers to find cheaper substitutes.
B) eliminate shortages.
C) decrease quantity demanded of the service.
D) decrease supply of the service.
E) do none of the above.
Correct Answer:
Verified
Q40: Without property rights there would be no
Q41: Falling prices for a service
A) create incentives
Q42: A surplus is the amount by which
Q43: Rising prices for a service
A) create incentives
Q44: Rising prices for a product
A) create incentives
Q47: How do price adjustments eliminate a surplus?
A)
Q48: When the price is below the market-clearing
Q49: If workers demand a wage above the
Q50: Figure 4.2.1
Market Demand and Supply for Pet
Q100: A shortage is the amount by which
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