In which of the following situations will both market clearing price and the equilibrium quantity increase?
A) an increase in demand with no change in supply
B) an increase in supply with no change in demand
C) a decrease in supply with no change in demand
D) a decrease in demand with no change in supply
A
Economics
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Median household income in the United States has increased from $38,771 in 1967 to $51,017 in 2012. Based only on this fact, we can conclude that
A) Inequality is increasing in the United States. B) Inequality is decreasing in the United States. C) Inequality is not changing in the United States. D) We cannot conclude anything about inequality in the United States without more information.
Economics
Why is it not a contradiction to say that a firm is simultaneously earning an accounting profit but suffering an economic loss?
What will be an ideal response?
Economics