Suppose that for a given good demand increases and supply decreases at the same time. If demand increases by a lesser amount than supply decreases, then equilibrium price equilibrium quantity and for that good. rises; falls falls; falls rises; rises falls; rises

Suppose that for a given good demand increases and supply decreases at the same time. If demand increases by a lesser amount than supply decreases, then equilibrium price equilibrium quantity and for that good. rises; falls falls; falls rises; rises falls; rises

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 42CTQ: Suppose there is a soda tax to curb obesity. What should a reduction in the soda tax do to the...

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Question

Suppose that for a given good demand increases and supply decreases at the same time. If demand
increases by a lesser amount than supply decreases, then equilibrium price
equilibrium quantity
and
for that good.
rises; falls
falls; falls
rises; rises
O falls; rises

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