Author Question: Suppose the price of cheese rises. In the market for pizza, one would expect that A) the supply ... (Read 65 times)

kfurse · **on:** Jun 29, 2018

Suppose the price of cheese rises. In the market for pizza, one would expect that

A) the supply of pizza would increase, and the price would fall.
B) the demand for pizza would increase, and the price would increase.
C) the demand for pizza would decrease, and price would fall.
D) the supply of pizza would decrease, and price would rise.

Question 2

In a market system, ________ provide signals about whether resources are relatively scarce or abundant.

A) prices
B) economists
C) government officials
D) scientists and engineers