A sharp increase in gasoline prices will cause the supply cu

Custom Essays Economics A sharp increase in gasoline prices will cause the supply cu

Economics

A sharp increase in gasoline prices will cause the supply cu

A sharp increase in gasoline prices will cause the supply curve for trucking services to shift to t… Show more A sharp increase in gasoline prices will cause the supply curve for trucking services to shift to the right. A)True B)False If more firms enter the telecommunications industry, we can expect the equilibrium price of telecom services to decrease and the equilibrium number of services to increase. A)True B)False The development of a low-cost synthetic fuel is expected to cause a decrease in the price of oil. A)True B)False If demand increases and supply decreases, then equilibrium price must decrease, but equilibrium quantity is indeterminate. A)True B)False When a market is in surplus, there is pressure for the price to move upward. A)True B)False A price floor is the minimum price that consumers have to pay. A)True B)False A price ceiling imposed on a good that is below the equilibrium price will result in a shortage of that good. A)True B)False A rent control law, where tenants pay below-market rents, is a market restriction that may induce a decrease in the supply of rented apartments. A)True B)False A price control always benefits consumers. A)True B)False • Show less

Order Now

Ready to try a high quality writing service? Get a discount here