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Questions and Answers
What happens to price when demand increases and supply remains constant?
What happens to price when demand increases and supply remains constant?
- It decreases
- It remains constant
- It increases (correct)
- It fluctuates
If both demand and supply decrease, what happens to the equilibrium price?
If both demand and supply decrease, what happens to the equilibrium price?
- It decreases
- It fluctuates
- It increases
- It remains constant (correct)
What is likely to happen if there is an increase in supply but no change in demand?
What is likely to happen if there is an increase in supply but no change in demand?
- Price remains constant
- Price decreases (correct)
- Price increases
- Price fluctuates
What happens to the equilibrium price if demand increases and supply decreases?
What happens to the equilibrium price if demand increases and supply decreases?
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If both demand and supply increase, what happens to the equilibrium quantity?
If both demand and supply increase, what happens to the equilibrium quantity?
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If there is a decrease in demand and no change in supply, what happens to the equilibrium price?
If there is a decrease in demand and no change in supply, what happens to the equilibrium price?
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