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Author Question: What happens if price falls below the market clearing price? A) Demand shifts out. B) Supply ... (Read 37 times)

sdfghj

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on: Jul 1, 2018
What happens if price falls below the market clearing price?
 
  A) Demand shifts out.
  B) Supply shifts in.
  C) Quantity demanded decreases, quantity supplied increases, and price falls.
  D) Quantity demanded increases, quantity supplied decreases, and price rises.

Question 2

This market situation is much like a pure monopoly except that its member firms tend to cheat on agreed upon price and output strategies. What is it?
 
  A) Duopoly
  B) Cartel
  C) Market sharing monopoly
  D) Natural monopoly


Liamb2179

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

D

Answer to Question 2

B


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