According to the figure above, which of the following events will increase the quantity demanded of bottled water?
A) a fall in the price of soda
B) a rise in the price of a fitness club membership
C) an increase in the number of buyers of bottled water
D) a fall in the price of bottled water
E) a rise in the price of bottled water
D
Economics
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A side effect of a price floor set above the equilibrium price is:
a. the new price is below equilibrium price. b. an excess supply of the good is created. c. an excess demand for the good is created. d. the supply of the good decreases. e. the demand for the good increases.
Economics
The highest price you are willing to pay for a pair of jeans is $20 . However, you are able to purchase it for $14 . This implies $6 is the producer surplus
Indicate whether the statement is true or false
Economics