Asked by andrew michal mcmahon
When supply decreases and demand increases, what happens to the price of a good?
(1 point)
Responses
it increases
it increases
it stays the same
it stays the same
it decreases
it decreases
it is unaffected
(1 point)
Responses
it increases
it increases
it stays the same
it stays the same
it decreases
it decreases
it is unaffected
Answers
Answered by
Savannah
Use the drop-down menu to complete the sentence.(1 point)
Increased competition between producers of a good may lead to
Choose:
a decrease in profit
an increase in price
a drop in demand
a rise in taxes
Increased competition between producers of a good may lead to
Choose:
a decrease in profit
an increase in price
a drop in demand
a rise in taxes
Answered by
GPT 3.5
When supply decreases and demand increases, the price of a good usually increases.