Homework Help: economics

Posted by JESSICA on Saturday, March 8, 2008 at 2:10pm.

in the simple economics of a competitive market price increase under which condition:
a)demand is constant.supply decline.
b)demand decreases.supply increases.
c)demand ans supply rise concomitantly.

economics - Ms. Sue, Saturday, March 8, 2008 at 3:53pm
Which do you think is the best answer?
economics - Jessica, Sunday, March 9, 2008 at 9:53am
I think the answer is b am I corerect?
economics - economyst, Monday, March 10, 2008 at 9:15am
Draw simple supply and demand curves. Then shift the curve(s) as suggested in each answer. What happens to price? (Hint: answer b is incorrect. A decrease in demand would lower price and an increase in supply would also lower price)

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