How would a decrease in the cost of production affect the market for video games?
a. Supply would decrease, leading to an increase in price and a reduction in quantity sold.
b. Supply would decrease, leading to a reduction in price and a reduction in quantity sold.
c. Supply would increase, leading to an increase in price and an increase in quantity sold.
d. Supply would increase, leading to a reduction in price and an increase in quantity sold.
D
Economics
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A free good is:
A) also a scarce good. B) a relatively abundant good. C) a good with no opportunity cost. D) a good with relatively low opportunity cost.
Economics
If interest rates increase, what will happen to the demand for reserves?
a. It will shift outward. b. It will shift inward. c. Nothing, the economy will move to a new quantity demanded. d. It depends on what happens to prices.
Economics