In which of the following situations will market clearing price decrease and the equilibrium quantity increase?
A) an increase in demand with no change in supply
B) an increase in supply with no change in demand
C) a decrease in supply with no change in demand
D) a decrease in demand with no change in supply
B
Economics
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In economics, the practical application of an invention is known as
A) innovation. B) entrepreneurship. C) physical capital. D) technology.
Economics
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for tuna. Which panel best describes what happens in this market when there is a decrease in the productivity of commercial fishermen?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Economics