If Supply Decreases Along a Given Demand Curve

question 225

Multiple Choice

If supply decreases along a given demand curve,

• A)an excess quantity demanded will be created, increasing the equilibrium price and causing equilibrium quantity to fall
• B)an excess quantity supplied will be created, lowering the equilibrium price and causing equilibrium quantity to rise
• C)an excess quantity demanded will be created, raising the equilibrium price and quantity
• D)an excess quantity supplied will be created, lowering the equilibrium price and quantity
• E)price will fall, shifting the demand curve outward, raising the equilibrium quantity

Comprehend the concept of derived demand in factor markets.

Recognize the importance of human capital and its investment.

Describe the composition of total income in an economy and the significant share of 'compensation of employees'.

Understand the role and categorization of various inputs and factors in production.

---

Definitions:

Interstitial Lamellae

Layers of bone matrix in compact bone that fill the spaces between osteons, providing strength and support.

Concentric Lamellae

Circular layers of bone matrix that surround the central canal within osteons, characteristic of compact bone structure.

Osteons

Cylindrical structures that comprise compact bone, containing a central canal surrounded by concentric lamellae of bone tissue.

Organic Matrix

The non-mineral, organic component of bone and teeth, made up of collagen and other proteins, which provides flexibility and strength.