Assume that consumer's income and the number of sellers in the market for good X both falls. Based on this information, we can conclude with certaintty that the equilibrium

Assume that consumer's income and the number of sellers in the market for good X both falls. Based on this information, we can conclude with certaintty that the equilibrium

A).  Price will decrease

B).  Price will increase

C).  Quantity will decrease

D).  Quantity will increase

---

Join Telegram Group

Answer This Question
Name:
Email:
Answer :
Sum of (4+1)
Submit:

Other Questions

1. The higher rate of growth of economy certainly reduces the

2. Identify the author of "The principles of Political Economy and Taxation"

3. Question 13:Examine the role of education in the economic development of a nation.

4. A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is

5. The demand curve facing a perfectly competitive firm is

6. The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in

7. Which among the following sponsors Regional Rural Banks (RRB'S)?

8. If one more baker is hired the output of a bakery will increase from 1250 breads to 1400 breads per day, but then the bakery will have to reduce the price of the bread from Rs 15 to Rs 14 per unit to sell the additional output, the marginal revenue product of the last baker is _______.

9. Question 4(iii):Wouldn't you be opposed to increase in price of petrol?

10. 'Dumping' in the context of international trade refers to :