Suppose that demand for tablets increases, and simultaneously, the supply of tablets increases. Which of the following would you conclude definitely will occur in the market for tablets?
A) The market clearing price will rise.
B) The market clearing price will fall.
C) The equilibrium quantity will rise.
D) The equilibrium quantity will fall.
C
Economics
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John loves to travel. He would never turn down the opportunity to go on a trip. This means that, for John:
a. the total utility of travel always increases. b. marginal utility of travel never decreases. c. the law of diminishing marginal utility does not apply to travel. d. marginal utility of travel is always zero. e. extra travel yields zero consumer surplus.
Economics
Property owned by everyone is generally referred to as
A) social property. B) free property. C) common property. D) natural property.
Economics