What will result from a decrease in resource costs to firms in a market?
a. an increase in equilibrium price and no change in equilibrium quantity
b. a decrease in equilibrium price and an increase in equilibrium quantity
c. an increase in equilibrium price and an increase in equilibrium quantity
d. a decrease in equilibrium price and a decrease in equilibrium quantity
Ans: b. a decrease in equilibrium price and an increase in equilibrium quantity
Business
You might also like to view...
__________ side of property market is made up of investors wanting to sell property
Fill in the blank(s) with the appropriate word(s).
Business
When a debtor files for bankruptcy:
A. Secured parties should repossess as quickly as possible B. Creditors must freeze all collection activity C. Secured parties become unsecured D. Collateral becomes worthless
Business