If both market demand and supply decrease simultaneously, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____

The Utah Pie case is an example of a violation of the Robinson-Patman Act

a. True b. False Indicate whether the statement is true or false

Economics, according to its definition, studies how people:

a. earn and spend money. b. invest in the stock and bond markets. c. make choices in the face of scarcity. d. supply goods in response to demand.