Demand for a particular type of apple is always strong in the beginning of fall. As a result, grocery stores typically face a _____ of these apples, causing them to _____ their price for the good
a. shortage; raise
b. surplus; raise
c. shortage; reduce
d. surplus; reduce
a
Economics
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A higher price level causes
A) the C + I + G + X curve to shift u
Economics
"The percentage change in quantity demanded divided by the percentage change in price" represents
A) the law of demand. B) the law of one price. C) the price elasticity of demand. D) the responsiveness of consumers to a change in quantity demanded. E) none of the above.
Economics