If the demand for a product rises and the supply stays the same
A) the market clearing price will fall and the equilibrium quantity will rise.
B) the market clearing price will rise and the equilibrium quantity will fall.
C) both the market clearing price and the equilibrium quantity will fall.
D) both the market clearing price and the equilibrium quantity will rise.
D
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The perceived specie shortage led colonists to invent:
(a) Country money (b) Paper money (c) Inflationary dollars (d) Conservative money
The greater are the barriers to entry into an industry
A. the more elastic will be the demand curves for existing firms. B. the more likely that existing firms will enjoy large profits in the long run. C. the lower will be short-run profits. D. the lower will be the average cost curves of existing firms.