A decrease in demand leads to a (an):

A decrease in demand leads to a (an):
 a. increased equilibrium price and an increased equilibrium quantity.
  b. decreased equilibrium price and a decreased equilibrium quantity.
  c. decreased equilibrium price and an increased equilibrium quantity.
  d. increased equilibrium price and a decreased equilibrium quantity.

QUESTION 2

An increased equilibrium price and a decreased equilibrium quantity results from a(an):
 a. decrease in demand.
  b. increase in supply.
  c. decrease in supply.
  d. increase in demand.

QUESTION 3

If goods A and B are complements, and if the price of good B rises, how will this affect the market equilibrium for good A?
 a. Price will rise and quantity will fall.
  b. Price will fall and quantity will rise.
  c. Price and quantity will both rise.
  d. Price and quantity will both fall.

QUESTION 4

If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good?
 a. Price will rise and quantity will fall.
  b. Price will fall and quantity will rise.
  c. Price and quantity will both rise.
 d. Price and quantity will both fall.

QUESTION 5

Suppose that X and Y are substitutes. If the price of Y increases, how will this change the market equilibrium for X?
 a. Equilibrium price and quantity both decline.
 b. Equilibrium price and quantity both rise.
 c. Equilibrium price declines, and equilibrium quantity rises.
  d. Equilibrium price rises, and equilibrium quantity falls.