If the market clearing price of computer tablets falls from $400 to $300, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged.
B) supply increased and demand remained unchanged.
C) demand increased and supply remained unchanged.
D) supply decreased and demand remained unchanged.
A
Economics
You might also like to view...
A production possibilities curve always slopes downward to the right because resources
a. are not scarce. b. have no opportunity cost. c. are freely available. d. are limited. e. are not related to outputs.
Economics
If the President and Congress agree to balance the budget during a recession, then the appropriate monetary policy is
a. no change from the current policy. b. reduce the growth of the money supply. c. constant growth of the money supply. d. increase the growth of the money supply.
Economics