• 2022-06-03
    Which of the following would cause price to decrease?
    A: a decrease in supply
    B: an increase in demand
    C: a surplus of the good
    D: a shortage of the good
  • C

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    • 0

      Which of the following would lead to a DECREASE in the demand for tennis balls? A: A decrease in the price of tennis rackets B: An increase in the cost of producing tennis balls C: A decrease in average household income when tennis balls are a normal good D: An increase in the price of tennis balls E: None of the above

    • 1

      According to the supply law, a fall in the price of a good will cause _____ in the supply of the good and vice versa, other things remaining equal. Price and quantity supplied have a ____ relationship. A: a decrease; negative B: a decrease; positive C: an increase; negative D: aan increase; positive

    • 2

      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.

    • 3

      When the price of a good is held under the equilibrium price, the result will be A: Excess demand B: Excess supply C: A surplus of the good D: neither surplus nor shortage of the good

    • 4

      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.