An increase in demand for oil, along with a simultaneous increase in supply of oil, will
A. increase price, but whether it increases quantity depends on how much each curve shifts.
B. increase quantity, but whether it increases price depends on how much each curve shifts.
C. increase price and decrease quantity.
D. decrease price and increase quantity.
Answer: B
Economics
You might also like to view...
The price that we observe in the market is
A) the law of demand. B) a substitute. C) the money price. D) the relative price.
Economics
Consider the above figure. The equation for the saving function is
A) S = 40 - 0.67 Yd. B) S = 40 + 0.33 Yd. C) S = -40 + 0.67 Yd. D) S = -40 - 0.33 Yd.
Economics