In which of the following instances is the effect on equilibrium price (whether it rises, falls, or remains unchanged) dependent on the magnitude of the shifts in supply and demand?
What will be an ideal response?
demand rises and supply rises
Economics
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Say's law says that
A) consumption is greater than supply. B) desired expenditures always equal actual expenditures. C) people produce the goods they consume. D) people consume the goods they produce.
Economics
Which will NOT affect the elasticity of demand for labor?
A) the labor intensity of the production process B) the elasticity of supply for labor C) the elasticity of demand for the good D) the substitutability of capital for labor
Economics