A decrease in supply will have what effect on equilibrium price and quantity?
A. Price will increase; quantity will decrease.
B. Price will decrease; quantity will increase.
C. Both price and quantity will increase.
D. Both price and quantity will decrease.
Answer: A
Economics
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a. True b. False Indicate whether the statement is true or false
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Generally, marginal costs ____ as quantity increases?
A) rise. B) fall. C) remain constant. D) equal marginal benefits. E) equal total costs.
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