With respect to the market clearing price and the equilibrium ...

[RRMR]

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

[nital]

Answer to Question 1

D

Answer to Question 2

A

[RRMR]

Thanks for the timely response, appreciate it

[olderstudent]

Gracias!