Which of the following statements is correct?
A. If demand increases and supply decreases, equilibrium price will fall.
B. If supply increases and demand decreases, equilibrium price will fall.
C. If demand decreases and supply increases, equilibrium price will rise.
D. If supply declines and demand remains constant, equilibrium price will fall.
Answer: B
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Which of the following is an important factor in the success of agrarian land reform policies?
(a) the introduction of sharecropping. (b) the introduction of tenant farming. (c) farmer training programs. (d) the introduction of more capital intensive methods.
Cartels usually succumb to divisive forces caused by
a. limited information. b. members cheating by giving secret discounts. c. entry by new rivals seeking profits. d. insufficient profits compared to independent operations.