If the demand for a product remains the same and the supply falls,
A) the market clearing price will fall and the equilibrium quantity will rise.
B) the market clearing price will rise and the equilibrium quantity will fall.
C) both the market clearing price and the equilibrium quantity will fall.
D) both the market clearing price and the equilibrium quantity will rise.
Question 2
There is an increase in the demand for cream when the price of coffee falls. Other things constant, we can conclude that coffee and cream are
A) substitute goods.
B) inferior goods.
C) independent goods.
D) complementary goods.
The site of Gladysvale in South Africa is excavated for Australopithecus remains.
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
The demand for cheap coal to generate electrical power is rising
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Sol Duc Falls in Olympic National Park, Washington.