Exhibit 3-11 Demand and Supply Curves

question 38

Multiple Choice

Exhibit 3-11 Demand and supply curves

-In Exhibit 3-11,in Panel A the movement from A to C describes a(n) :

• A) ambiguous change in price and a decrease in quantity.
• B) increase in price and an ambiguous change in quantity.
• C) increase in both price and quantity.
• D) decrease in both price and quantity.
• E) change in supply that dominates a change in demand.

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