In a market at equilibrium price a Neither buyers nor sellers can do business

In a market at equilibrium price a neither buyers nor

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6)In a market, at equilibrium price: 7)Price steadily increases and quantity bought steadily increases. SUV prices rose and each year, more were purchased. This fact suggests that: 8)Fall in price of Cola, a substitute for coffee, will: 9)Price of energy rose in 2011, so there was _____ in the supply of Big Macs which resulted in a _____ in price of Big Macs. 10)Technological change lowers cost of production of coffee. At the same time, prices of Pepsi and Coke rise. Equilibrium quantity of coffee will: a.Increaseb.Decreasec.Remain the samed.Increase or decrease depending on whether the price of coffee rises or fallse.Increase or decrease depending on relative shifts of the demand and supply curves 11)Goods X & Y are complements for consumers. If price of a resource used to produce X falls, the price of:
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12)Price elasticity of demand equals magnitude of the ___ in the ___, divided by the ___ in the ___. 13)Rent ceiling law is introduced and maximum rent permitted is lower than market equilibrium rent. Quantity of housing is equal to:
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