Suppose the demand curve for a product is represented by a typical downward-sloping curve. Now suppose the demand for this product decreases. Which of the following statements accurately predicts the resulting decrease in price?
A) The increase in price is not affected by the elasticity of the supply curve.
B) The more elastic the supply curve, the smaller the price decrease.
C) The decrease in price will always be proportional to the magnitude of the demand shift.
D) The more elastic the supply curve, the greater the price increase.
B
Economics
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Refer to the scenario above. What is the net present value of his friend's project?
A) -$459.32 B) -$666.21 C) $534.66 D) $616.21
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Which of the following would cause the price of the dollar to rise?
A) a fall in bond prices B) an increase in bond prices C) a decrease in interest rates D) a fall in the exchange rate
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