An increase in supply results in a(n)
a. increase in demand
b. decrease in equilibrium quantity and an increase in equilibrium price
c. decrease in equilibrium quantity and a decrease in equilibrium price
d. decrease in equilibrium price and an increase in equilibrium quantity
e. unfavorable shift in tastes and preferences
D
Economics
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Pick the true statement below:
A) All scarce goods are normal goods. B) All scarce goods are inferior goods. C) A normal goods is a scarce good. D) An inferior good is a bad.
Economics
When the inflation rate rises, the purchasing power of nominal income:
A. remains unchanged. B. decreases. C. increases. D. changes by the inflation rate minus one.
Economics