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Author Question: If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts ... (Read 130 times)

cmoore54

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

A

Answer to Question 2

B


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