128. Which of the following events will definitely cause equilibrium price to fa

Question

128. Which of the following events will definitely cause equilibrium price to fal? a. demand increases and supply decreases b. demand and supply both decrease c. demand decreases and supply increases d. demand and supply both increase 129. Equilibrium price will unambiguously decrease when demand increases and supply does not change, when demand does not change and supply a. b. demand increases and supply does not change, when demand does not change c. demand decreases and supply does not change, when demand does not change and supply d. demand decreases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously decreases, and when demand increases and supply decreases simultaneously increases, and when demand decreases and supply increases simultancously increases, and when demand increases and supply decreases simultaneously. 130. Which of the following events will definitely cause equilibrium price to rise? a. demand increases and supply decreases b. demand and supply both decrease c. demand decreases and supply increases d. demand and supply both increase 131. Equilibrium price will unambiguously increase when a. demand increases and supply does not change, when demand does not change and supply b. demand increases and supply does not change, when demand does not change and supply c. demand decreases and supply does not change, when demand does not change and supply d. demand decreases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously. decreases, and when demand increases and supply decreases simultaneously increases, and when demand decreases and supply increases simultaneously. increases, and when demand increases and supply decreases simultaneously. 132. Which of the following events would cause both the equilibrium price and equilibrium quantity of number two grade potatoes (an inferior good) to increase? a. an increase in consumer income b. a decrease in consumer income c. greater government restrictions on agricultural chemicals d. fewer government restrictions on agricultural chemicals

Explanation / Answer

Ans:

128) Option C

demand decreases and supply increases.

when demand decreases, the demand curve will shift to the left and when supply increases, supply curve will shift to the right causing equilibrium price to fall.

129) Option C

demand decreases and supply does not change,when demand does not change and supply increases,and when demand decreases and supply increases simultaneously.  

when demand decreases, the demand curve will shift to the left and when supply increases, supply curve will shift to the right causing equilibrium price to decrease.

130) Option A

demand increases and supply decreases

when demand increases, the demand curve will shift to the right and when supply decreases, supply curve will shift to the left causing the equilibrium price to rise.

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