The initial equilibrium price in the market for Web pages is $200 per page and 1000 Web pages are created in a month. Many new Web design firms now enter the market. As a result,
A) the supply of Web pages increases and the price falls.
B) the supply curve of Web pages shifts leftward and the price falls.
C) the demand for Web pages increases and the price rises.
D) the supply of web pages increase and the price falls, which then increases the demand for Web pages and the demand curve shifts rightward.
E) the demand for Web pages increases and the price falls.
A
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The cost of producing aspirin increases simultaneously as doctors find that one aspirin per day reduces the risk of heart attacks. The supply of aspirin ________ and the demand for aspirin ________ so that the equilibrium price of aspirin ________
A) increases; increases; rises B) decreases; increases; rises C) increases; decreases; might rise, fall, or stay the same D) decreases; increases; might rise, fall, or stay the same
Which of the following would not be included in personal consumption expenditure?
A. Medical expenses B. College tuition C. A movie ticket D. Federal police protection