Suppose there are a negative demand shock and a positive supply shock in a perfectly competitive market. Which of the following cannot happen? a.The equilibrium price increases. b.The equilibrium price decreases. c.The equilibrium quantity increases. d.The equilibrium quantity decreases. e.None of the above
Suppose there are a negative demand shock and a positive supply shock in a perfectly competitive market. Which of the following cannot happen? a.The equilibrium price increases. b.The equilibrium price decreases. c.The equilibrium quantity increases. d.The equilibrium quantity decreases. e.None of the above
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 13P
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Question
Suppose there are a negative
a.The
b.The equilibrium price decreases.
c.The
d.The equilibrium quantity decreases.
e.None of the above
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