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.
A country's terms of trade can be improved by ____? ...
A change in the pump price of petrol in Nigeria has a direct effect on the ...
At any given level of output, a firm's total variable cost equals ...
Producers operating in a free market economy are more efficient as a result of ...
Which of the following best describes the multiplier? ...
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is consid...