An increase in market supply and an increase in market demand will result in
A: A decrease in equilibrium price and an increase in equilibrium quantity
B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate
C: An increase in equilibrium quantity and the change in price is unclear
D: all of above
A: A decrease in equilibrium price and an increase in equilibrium quantity
B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate
C: An increase in equilibrium quantity and the change in price is unclear
D: all of above
举一反三
- Which of the following will definitely occur when there is an increase in demand for and a decrease in supply of milk? A: an increase in equilibrium quantity B: a decrease in equilibrium quantity C: a decrease in equilibrium price D: an increase in equilibrium price.
- Which of the following always raises the equilibrium price? A: an increase in both demand and supply B: a decrease in both demand and supply C: an increase in demand combined with a decrease in supply D: a decrease in demand combined with an increase in supply
- Which of the following would unambiguously cause a decrease in the equilibrium price of cotton shirts? ( ) A: an increase in the price of wool shirts and a decrease in the price of raw cotton B: a decrease in the price of wool shirts and a decrease in the price of raw cotton. C: an increase in the price of wool shirts and an increase in the price of raw cotton. D: a decrease in the price of wool shirts and an increase in the price of raw cotton.
- If the equilibrium price of a good decreases and the equilibrium quantity of the good decreases, we can conclude that
- If a 15% increase in price for a good results in a 20% decrease in quantity demanded, the price elasticity of demand is