A shift in supply will have a bigger effect on price than output if demand is ?

Related Mcqs:

Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ?

A. price will decrease, quantity is ambiguous B. The impact on both price and quantity is ambiguous. C. Price will increase, quantity will increase D. price will increase, quantity will decrease E. price will increase, quantity is ambiguous....

VAT is a good example of which kind of tax ?

A. Specific B. Exercise duty C. Direct D. Ad valorem...

We cannot say whether one allocation of resources is better than another allocation because ?

A. some people can’t count B. some people may not be permanent resident C. not all economic activity is legal D. We can’t make value judgments to compare different people’s welfare...

An increase in income will ?

A. Lead to a movement along the demand curve B. Shift the supply curve C. Shift the demand curve D. Lead to an extension of demand...

Which of the following is the government most likely to subsidies ?

A. Negative externalies B. Positive externalities C. Monopolies D. Oligopolies...