Suppose there is a decrease in supply and an associated decrease in the quantity demanded. Which of the following events are consistent with this situation? technology has improved input prices have increased none of the other choices are correct
Suppose there is a decrease in supply and an associated decrease in the quantity demanded. Which of the following events are consistent with this situation? technology has improved input prices have increased none of the other choices are correct
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 4MC
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Suppose there is a decrease in supply and an associated decrease in the quantity demanded. Which of the following events are consistent with this situation?
technology has improved
input prices have increased
none of the other choices are correct
some buyers have left the market
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