Author Question: If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts ... (Read 163 times)

cmoore54

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If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts leftward, the equilibrium
 
  A) price of bottled water definitely increases.
  B) price of bottled water definitely decreases.
  C) quantity of bottled water definitely increases.
  D) quantity of bottled water definitely decreases.

Question 2

A perfectly competitive firm is definitely making an economic profit when
 
  A) MR < MC.
  B) P > ATC.
  C) P < ATC.
  D) P > AVC.



sailorcrescent

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Answer to Question 1

A

Answer to Question 2

B



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