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Author Question: If there is a surplus in the oil market, then the price of oil will: a. rise. b. fall. c. remain ... (Read 27 times)

casperchen82

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If there is a surplus in the oil market, then the price of oil will:
 a. rise. b. fall.
  c. remain unchanged. d. react unpredictably.

Question 2

Assume Qs represents the quantity supplied at a given price and Qd represents the quantity demanded at the same given price. Which of the following market conditions produce a downward movement of the price?
 a. Qs = 1,000, Qd = 750 b. Qs = 750, Qd = 750.
  c. Qs = 750, Qd = 1,000 d. Qs = 1,000, Qd = 1,000.



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Bison

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Answer to Question 1

b

Answer to Question 2

a




Bison

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