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Homework answers / question archive / Which of the following statements is (are) correct? x) If the supply of a product increases, it would be expected that the equilibrium price would decrease and the equilibrium quantity would increase

Which of the following statements is (are) correct? x) If the supply of a product increases, it would be expected that the equilibrium price would decrease and the equilibrium quantity would increase

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Which of the following statements is (are) correct?

x) If the supply of a product increases, it would be expected that the equilibrium price would decrease and the equilibrium quantity would increase.

(y) If the demand for a product decreases, it would be expected that the equilibrium price would decrease and the equilibrium quantity would decrease.

(z) If the demand for a product decreases or the supply of a product increases, it would be expected that the equilibrium price would decrease.

A. (x), (y) and (z)

B. (x) and (y) only

C. (x) and (z) only

D. (y) and (z) only

E. (x) only

Option 1

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