A decrease in supply, with no change in demand, will lead to ________ in equilibrium quantity and ________ in equilibrium price.
A) an increase; an increase
B) an increase; a decrease
C) a decrease; an increase
D) a decrease; a decrease
Ans: C) a decrease; an increase
Economics
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Public franchises create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.
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The price ceiling that was used to control the price of housing in New York City and other cities was called ____________ .
a. rent control b. rent abatement c. housing control d. equilibrium price
Economics