When the demand for a good decreases, its equilibrium price ________ and equilibrium quantity ________
A) falls; increases
B) falls; does not change
C) rises; decreases
D) rises; increases
E) falls; decreases
E
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When maximizing economic growth is a country's goal it:
A. may work in opposition to the country's happiness in terms of satisfaction gained from leisure. B. increases the correlation to the country's happiness, because more money makes people happier. C. creates a perfect correlation to happiness, if the money is allocated fairly. D. everyone in the economy will be better off if it obtains its goal.
Refer to the information provided in Figure 9.3 below to answer the question(s) that follow. Figure 9.3Refer to Figure 9.3. This firm's ________ point corresponds to point B.
A. break even B. profit minimizing C. shutdown D. profit maximizing