Subject - Economics:

Microeconomics

MCQ - 139-4149

Question:

The market for good X is currently in equilibrium. Which of the following choices would not cause both a decrease in the equilibrium price of good X and a decrease in the equilibrium quantity of good X?

A decrease in consumer income and good X is a normal good.
An increase in consumer income and good X is an inferior good.
An increase in the price of good Y, a complement for good X.
An increase in consumer income and good X is an inferior good.
An increase in the number of consumers in the market for good X.

Correct Answer: E

Explanation:

All other choices would produce a decrease in the demand for good X and would therefore decrease both the price and quantity. You are looking for the only choice that would not . More consumers for good X would increase demand and increase both the price and quantity

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: The market for good X is currently in equilibrium. Which of the following choices would not cause both a decrease in the equilibrium price of good X a .... ntity of good X? , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 139-4149.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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