The demand for cat food decreases while the supply increases. The equilibrium price of cat food ________, and the equilibrium quantity ________
A) does not change; increases
B) rises; decreases
C) falls; perhaps changes but we can't say if it increases, decreases, or stays the same
D) rises; perhaps changes but we can't say if it increases, decreases, or stays the same
E) falls; increases
C
Economics
You might also like to view...
Increases in the stock of capital are the result of decreases in
A) net investment. B) depreciation. C) gross investment. D) all of the above.
Economics
If price is equal to short-run average variable cost, the firm is at the point known as:
a. the break even point. b. the profit maximizing point. c. the shutdown point. d. the revenue maximizing point.
Economics