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Author Question: For a given supply curve, an increase in demand will typically a. increase price, but quantity ... (Read 60 times)

Tirant22

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on: Jul 1, 2018
For a given supply curve, an increase in demand will typically
 a. increase price, but quantity could change in either direction
  b. increase quantity, but price could change in either direction
  c. increase price but leave quantity unchanged
  d. decrease both quantity and price
  e. increase both quantity and price

Question 2

What is the effect of a decrease in the price of potato chips on the market for pretzels?
 a. Both equilibrium price and equilibrium quantity rise.
  b. Both equilibrium price and equilibrium quantity fall.
  c. Equilibrium price rises and equilibrium quantity falls.
  d. Equilibrium price falls and equilibrium quantity rises.
  e. Equilibrium price and equilibrium quantity remain unchanged.


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makaylafy

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Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

B


Tirant22

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  • Posts: 532
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

ASDFGJLO

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  • Posts: 335
Reply 3 on: Yesterday
:D TYSM

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