The price at which quantity demanded equals quantity demands is called: A.Equator B.Price Mechanism C.Equilibrium D.Price Floors2. If supply remains constant and demand increases, what happens to price and quantity? A.Decrease price; decrease quantity B.Increase price; decrease quantity C.Increase price; increase quantity D.Decrease price, increase quantity

Answered: The price at which quantity demanded…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The price at which quantity demanded equals quantity demands is called:

A.
Equator

B.
Price Mechanism

C.
Equilibrium

D.
Price Floors

2. If supply remains constant and demand increases, what happens to price and quantity?

A.
Decrease price; decrease quantity

B.
Increase price; decrease quantity

C.
Increase price; increase quantity

D.
Decrease price, increase quantity

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