Answered

Question 1:
Quantity demanded is equivalent to quantity supplied.
Quantity demanded is not affected by quantity supplied.

Question 2:
Government officials want to reduce the possibility of oil leaks into bodies of freshwater drinking sources. Therefore, the government insists that oil refineries undergo monthly inspections. For what reason would the government regulate monthly inspections at oil refineries?

A. Save the refinery money
B. Increase domestic oil production
C. Protect the public from pollution
D. Encourage foreign oil imports to drive down prices



Answer :

GinnyAnswer

Final answer:

In economics, quantity demanded remains unaffected by quantity supplied.


Explanation:

Quantity demanded is not affected by quantity supplied. In economics, quantity demanded is purely a function of price and other factors influencing consumer behavior, independent of the quantity supplied by producers. For example, if the demand for a product is high but the supply is low, the quantity demanded will still reflect consumer preferences and willingness to pay.


Learn more about Quantity demanded and quantity supplied in economics here:

https://brainly.com/question/7068977


Other Questions