When the demand for good A increases:
a) the equilibrium price and equilibrium quantity will decrease.
b) a surplus will result.
c) the equilibrium price will rise but the equilibrium quantity will decrease.
d) the equilibrium price will decrease but the equilibrium quantity will increase.
e) the equilibrium price and equilibrium quantity will increase.
Ans: e) the equilibrium price and equilibrium quantity will increase.
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Indicate whether the statement is true or false.
When a company begins marketing a new product line in addition to its existing product lines, it has done which of the following?
A) expanded the length of the product line B) expanded the width of the product mix C) expanded the depth of the product mix D) expanded the width of the marketing mix E) used a filling-out strategy