46. Without more information, the supply and demand cannot predict the effect on price of: AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Topic: Market Equilibrium 47. The ______ the demand curve, the _____ responsive is the amount demanded to price. Reflective Thinking Blooms: Remember Difficulty: 1 Easy Topic: Elasticities of Demand and Supply 48. Suppose there is an increase in the supply of a good. Which of the following statements is true?
46. Without more information, the supply and demand cannot predict the effect on price of: AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Topic: Market Equilibrium 47. The ______ the demand curve, the _____ responsive is the amount demanded to price. Reflective Thinking Blooms: Remember Difficulty: 1 Easy Topic: Elasticities of Demand and Supply 48. Suppose there is an increase in the supply of a good. Which of the following statements is true?
Test-Bank-for-Microeconomics-2nd-Edition-by-Bernheim.docx