Assuming that the demand for a good has decreased and the supply of a good has increased by the same amount, then:
a. The change in price is determinate but the change in quantity is indeterminate.
b. The change in quantity is determinate but the change in price is indeterminate.
c. Neither the change in price nor the change in quantity will be indeterminate.
d. Both the change in price and the change in quantity will be indeterminate.
c
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Over time, overall responsibility for formulating monetary policy has become increasingly concentrated in the
A) Federal Reserve Bank of New York. B) Council of Economic Advisors. C) Federal Deposit Insurance Corporation. D) Federal Reserve Board of Governors.
In the long run, the monopolistically competitive firm's demand curve will
A) intersect the ATC at its minimum point. B) intersect the ATC curve somewhere past the minimum point. C) become tangent to the ATC curve at its minimum point. D) become tangent to the ATC curve somewhere to the left of its minimum point.