If A and B are complements, an increase in the price of good A would: a) have no
ID: 1240571 • Letter: I
Question
If A and B are complements, an increase in the price of good A would:a) have no effect on the quantity demanded of B.
b) lead to an increase in demand for B.
c) lead to a decrease in demand for B.
d) none of the above.
If a shortage exists in a market, the natural tendency is for:
a) demand to increase.
b) price to increase.
c) quantity supplied to decrease.
d) no change in the market.
If steak is a normal good, what do you suppose would happen to price and quantity during an economic recession?
a) price would increase and quantity decrease.
b) price and quantity would both increase.
c) price and quantity would both decrease.
d) price would decrease and quantity increase
Suppose you produce wooden desks, and government legislation protecting the spotted owl has made it more expensive for you to purchase wood. What do you expect to happen to the equilibrium price and quantity of wooden desks?
a) price and quantity will increase.
b) price will increase but quantity will decrease.
c) price and quantity will decrease.
d) price will decrease but quantity will increase.
Explanation / Answer
for the first one, c second one, b third one, c last one, b guaranteed answer!