If both the demand for and the supply of computers are increasing, which of the following statements is TRUE?
A) The consumer should buy a computer now since the price will be higher in the future.
B) The consumer should wait and buy a computer later since the price will be lower in the future.
C) The price of a computer will be the same in the future as it is now.
D) It is impossible to know, given only this information, whether the prices of computers will go up or down in the future.
D
You might also like to view...
Consuming to the point where the marginal utility of each good is equal to the price of that good is consistent with utility maximization
a. True b. False
John is currently spending all of his income. For the last unit of Good X consumed John gets 20 utils and for the last unit of Good B consumed he gets 10 utils. The price of Good X is $10. The price of Good Y is $5. If John wants to maximize his utility
he should A) continue to purchase the same amount of Good X and Good Y. B) increase the consumption of Good X and decrease the consumption of Good Y. C) decrease the consumption of Good X and increase the consumption of Good Y. D) decrease the consumption of Good X and decrease the consumption of Good Y.