18) Suppose we observe a rise in the price of good A and a decrease in the quantity of good A bought and sold. Which one of the following is a likely explanation? A) The supply of A increased. B) The law of supply is violated. C) The demand for A decreased. D) The demand for A increased. E) The supply of A decreased.

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Beverley SmithLv2

15 Oct 2018

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15) Suppose we observe a rise in the price of good A and a decrease in the quantity of good A bought and sold. Which one of the following is a likely explanation? A) The law of supply is violated. B) The demand for A decreased. C) The supply of A decreased. D) The demand for A increased. E) The supply of A increased.

3) Suppose we observe a rise in the price of good A and a decrease in the quantity of good A bought and sold. Which one of the following is a likely explanation? A) The law of supply is violated. B) The demand for A decreased. C) The demand for A increased. D) The supply of A increased. E) The supply of A decreased.

62) Suppose we observe both an increase in the price of good A and a decrease in the quantity of good A bought and sold. Which one of the following is a likely explanation? A) The law of supply is violated. B) The demand for A has decreased. C) The supply of A has increased. D) The supply of A has decreased. E) The demand for A has increased.