Other things being equal, the effects of an increase in the price of crackers on the market for soup is represented by a(n):
a. downward movement along the demand curve for soup.
b. upward movement along the demand curve for soup.
c. rightward shift in the demand curve for soup.
d. leftward shift in the demand curve for soup.
d
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If a rent ceiling is set below the equilibrium price, thus creating a ________, housing may be allocated by increasing search activity or creating a ________
A) shortage; black market B) shortage; free market C) surplus; black market D) surplus; open market E) surplus; free market
A study conducted by a research firm revealed that RiteCure Health Insurance charges higher premiums than most of its rivals. The study also revealed that unlike its rivals, 60% of RiteCure's customers have chronic illnesses
a) What is the link between these two findings? b) What is likely to happen if the premium continues to rise?