Question

16. A decrease in demand will have what effect on equilibrium price and quantity?

A. Price will increase; quantity will decrease.

B. Price will decrease; quantity will increase.

C. Both price and quantity will increase.

D. Both price and quantity will decrease.

17.

Along a supply curve,

		A. supply changes as price changes.
		B. quantity supplied changes as price changes.
		C. supply changes as technology changes.
		D. quantity supplied changes as technology changes

18.

If the price rises, what happens to the supply for a product?

		A. It increases.
		B. It decreases.
		C. It does not change.
		D. Uncertain-economic theory has no answer to this question.