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Author Question: If there is a surplus in the oil market, then the price of oil will: a. rise. b. fall. c. remain ... (Read 67 times)

casperchen82

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on: Jun 30, 2018
If there is a surplus in the oil market, then the price of oil will:
 a. rise. b. fall.
  c. remain unchanged. d. react unpredictably.

Question 2

Assume Qs represents the quantity supplied at a given price and Qd represents the quantity demanded at the same given price. Which of the following market conditions produce a downward movement of the price?
 a. Qs = 1,000, Qd = 750 b. Qs = 750, Qd = 750.
  c. Qs = 750, Qd = 1,000 d. Qs = 1,000, Qd = 1,000.


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Bison

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


casperchen82

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Reply #2 on: Jun 30, 2018
Correct answers!


Bison

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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