-If Demand for a Good Is Represented by Curve D

question 138

Multiple Choice

-If demand for a good is represented by curve D" in Figure 5-10,then an increase in supply of the good will cause the equilibrium

• A)price to fall,but revenue will not change
• B)quantity to fall,but revenue to rise
• C)quantity to rise,but revenue will not change
• D)price to rise,but revenue to fall
• E)price to fall.Seller's total revenue could rise or fall depending on the price elasticity of demand

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Definitions:

°C

A degree of Celsius, a scale and unit of measurement for temperature.

Atm

A unit of pressure defined as atmospheric pressure, equivalent to the pressure exerted by the Earth's atmosphere at sea level.

Volume

The quantity of three-dimensional space occupied by a substance or item.

°C

A unit of temperature on the Celsius scale, a temperature scale originally known as the centigrade scale, with 0°C denoting the freezing point of water and 100°C its boiling point at sea level.