Equilibrium quantity must decrease when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.
b. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease.
c. decreases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease.
d. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.
d
You might also like to view...
Which of the following might be a final good?
A) A box of Kellogg's corn flakes B) An iMac computer C) A U-Haul rental vehicle D) An economics textbook E) Any of the above might be, depending upon who is purchasing it.
In the above figure, the area of rectangle ABHG represents the monopolist's
A) maximized economic profits. B) maximized total revenue. C) average total profits. D) total costs.