An increase in equilibrium price and a decrease in equilibrium quantity could be caused by a(n)
a. increase in resource prices
b. increase in demand
c. increase in supply
d. favorable shift in tastes and preferences
e. improvement in production technology
A
You might also like to view...
By subsidizing the provision of public education, the government
A) generates an increase in the quantity of educational services demanded. B) pushes the per-unit price that consumers pay for educational services below the market clearing price. C) pushes the per-unit price that producers of educational services receive above the market clearing price. D) All of the above
Cost-push inflation can be shown on an aggregate supply aggregate demand diagram as
A) a rightward shift of the aggregate supply curve with no change in aggregate demand. B) a rightward shift in the aggregate demand curve with no change in aggregate supply. C) a leftward shift in the aggregate demand curve with no change in aggregate supply. D) a leftward shift in the aggregate supply curve with no change in aggregate demand.