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Author Question: With respect to the market clearing price and the equilibrium quantity for good X, an increase in ... (Read 133 times)

RRMR

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on: Jun 29, 2018
With respect to the market clearing price and the equilibrium quantity for good X, an increase in the demand for and a decrease in supply of the good definitely will
 
  A) increase the market clearing price and the equilibrium quantity of good X.
  B) decrease the market clearing price and the equilibrium quantity of good X.
  C) increase the market clearing price of good X but lower the equilibrium quantity of X.
  D) increase the market clearing price of good X but have an uncertain impact on the equilibrium quantity of X.

Question 2

What is the type of mechanism that answers the basic economic questions through a decentralized decision making process?
 
  A) market system
  B) dictatorship
  C) command and control
  D) mixed economic system


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nital

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


RRMR

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  • Posts: 557
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

hollysheppard095

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  • Posts: 339
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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