The effect of an increase in demand for a commodity accom...
The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to
Raise the price of the commodity and affect the quantity in an indeterminate way
Decrease the equilibrium quantity and affect the price in an intermediate way
Raise its price as well as the equilibrium quantity
Lower it price while affecting the equilibrium quantity in an interminate way
Correct answer is C
No explanation has been provided for this answer.
In a perfect competition, the market price is determined by_______ ...
A consumer's scale of preference is an arrangement of his ...
Which of the following countries is a major trading partner of Nigeria? ...
Mono-product economies are those that produce ...
When market supply increases, the equilibrium price_________ ...
The ordinary partner in a partnership ...
Which of the following is the correct order in the chain of distribution? ...
Goods that are useful, scarce and can command price are called …………. goo...