Examlex

Solved

Suppose That for a Given Good Demand Increases and Supply

question 184

Multiple Choice

Suppose that for a given good demand increases and supply decreases at the same time.If demand increases by a lesser amount than supply decreases,then equilibrium price __________ and equilibrium quantity __________ for that good.


Definitions:

Scratch Test

An allergy test in which extracts of suspected allergens are applied to the patient’s skin and the skin is then scratched to allow the extracts to penetrate.

Suspected Allergens

Substances believed to cause allergic reactions.

Lancet

A small, sharp medical instrument used for making incisions, especially for taking blood samples.

Radioallergosorbent Test

A blood test used to detect specific IgE antibodies to determine the substances a person is allergic to.

Related Questions