Lower fuel oil prices in 1986 led to a reduction in demand and-09108
Lower fuel oil prices in 1986 led to a reduction in demand and lower prices of solar heating units. At the lower price, producers of solar heating units reduced the quantity supplied. This statement is
This multiple choice question (MCQ) is related to the book/course
vu eco402 Microeconomics.
It can also be found in
vu eco402 Final Term - Quiz No.3.
Lower fuel oil prices in 1986 led to a reduction in demand and lower prices of solar heating units. At the lower price, producers of solar heating units reduced the quantity supplied. This statement is
false; lower fuel oil prices would increase the demand for and price of solar heating units.
false; producers of solar units would expand production rather than reduce output if the price of the units fell.
false; if the demand for solar units fell, the supply of the units would decrease but not the quantity supplied.
essentially correct.
