Ceteris paribus, a decrease in the price of a good will cause the:
a. quantity demanded of the good to decrease
b. quantity supplied of the good to increase.
c. consumer surplus derived from the good to increase.
d. supply of the good to decrease.
c
Economics
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Refer to Table 9-3. Assume the market basket for the consumer price index has three products — Cokes, hamburgers, and CDs — with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 75. B) 93. C) 108. D) 121.
Economics
The old classical macroeconomic was based on an assumption of price and wage ________, and thus an economy that ________
A) flexibility, promptly self-corrected B) flexibility, failed to self-correct promptly C) stickiness, promptly self-corrected D) stickiness, failed to self-correct promptly
Economics