Author Question: If the demand for high definition televisions increases and the supply of high definition ... (Read 131 times)

big1devin · **on:** Jul 1, 2018

If the demand for high definition televisions increases and the supply of high definition televisions increases, then

A) it is clear that prices will increase; the change in the quantity of televisions sold is ambiguous.
B) it is clear that prices will decrease; the change in the quantity of televisions sold is ambiguous.
C) it is clear that quantity sold will increase; the change in the price of televisions is ambiguous.
D) it is clear that quantity sold will decrease; the change in the price of televisions is ambiguous.

Question 2

If government regulations increase the cost of producing gasoline while at the same time government regulations reduce the cost of driving a relatively inefficient sport utility vehicle (SUV),

A) the supply of gasoline is expected to increase.
B) the demand for gasoline is expected to decrease.
C) the price of gasoline is expected to increase, whereas the total consumption of gasoline can increase, decrease, or stay the same.
D) the supply of gasoline is expected to decrease.

b614102004 · **Reply #1 on:** Jul 1, 2018

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