Author Question: In the above figure, a price of 35 per dozen would result in A) a shortage. B) equilibrium. C) ... (Read 59 times)

LCritchfi · **on:** Jun 29, 2018

In the above figure, a price of 35 per dozen would result in

A) a shortage.
B) equilibrium.
C) a surplus.
D) upward pressure on prices.

Question 2

If a 5 percent increase in the price of good A leads to a 4 percent decrease in the demand for good B, then ________.

A) the goods are substitutes
B) only one good is a normal good
C) the goods are complements
D) both goods are normal goods