When demand increases in a perfectly competitive market, in the short run __________________, and in the long run __________________.
A. prices increase; supply increases
B. prices increase; prices stay permanently higher
C. quantity supplied increases; prices increase
D. quantity supplied decreases; prices decrease
A. prices increase; supply increases
Economics
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A decrease in the demand for beef because of concerns over cholesterol results in
A) lower beef prices. B) higher beef prices. C) an increase in the supply of beef. D) an offsetting increase in the demand for beef if the price of beef falls.
Economics
The price of one currency in terms of another is called an exchange rate
Indicate whether the statement is true or false
Economics