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Question 1.

An increase in the price of labor used to produce good A will lead to

• an increase in the demand for good A.

• a decrease in the demand for good A.

• an increase in the market clearing price of good A.

• an increase in the supply of good A.

Question 2.

Which one of the following could account for an increase in the market clearing price of portable power banks?

• an increase in supply of portable power banks

• an increase in demand along with a decrease in supply

• an increase in supply along with a decrease in demand

• a decrease in demand for portable power banks
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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2 months ago
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Answer 1

an increase in the market clearing price of good A.

Answer 2

an increase in demand along with a decrease in supply
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