Which of the following statements is (are) correct? (x) If the number of sellers in a market increases, then the supply curve for the good shifts to the right. (y) If the federal government places regulations on the production and sale of a good, it is probable that the costs of production will increase and the supply curve for the good will shift to the left. (z) If buyers change expectations and now believe that the price of the product will fall in the future, then they will increase demand today before the price decrease occurs. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (y) only
Which of the following statements is (are) correct? (x) If the number of sellers in a market increases, then the supply curve for the good shifts to the right. (y) If the federal government places regulations on the production and sale of a good, it is probable that the costs of production will increase and the supply curve for the good will shift to the left. (z) If buyers change expectations and now believe that the price of the product will fall in the future, then they will increase demand today before the price decrease occurs. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (y) only
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the following statements is (are) correct?
(x) If the number of sellers in a market increases, then the supply curve for the good shifts to the right.
(y) If the federal government places regulations on the production and sale of a good, it is probable that the
costs of production will increase and the supply curve for the good will shift to the left.
(z) If buyers change expectations and now believe that the
they will increase demand today before the price decrease occurs.
A. (x), (y) and (z) B. (x) and (y) only
C. (x) and (z) only D. (y) and (z) only
E. (y) only
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