Answer the 2 questions correctly. Filled in anwers are what I think are correct.

Question

Answer the 2 questions correctly.

Filled in anwers are what I think are correct.

According to the law of demand, an increase in the price of gasoline leads to: An increase in the demand for gasoline A decrease in the demand for gasoline An increase in the quantity demanded of gasoline, c.p. A decrease in the quantity demanded of gasoline, c.p. What will happen to equilibrium price and quantity of tennis balls if court rental fees decline? PE increase, QE increase PE decrease, QE decrease PE increase, QE decrease PE decrease, QE increase

Explanation / Answer

4. D

5. A

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