Assume That Supply Increases Slightly and Demand Increases Greatly

question 46

Multiple Choice

Assume that supply increases slightly and demand increases greatly.Which of the following will happen?

• A)equilibrium price will fall and equilibrium quantity will rise
• B)equilibrium price will rise and equilibrium quantity will fall
• C)equilibrium price will rise and equilibrium quantity will rise
• D)equilibrium price will fall and equilibrium quantity will fall
• E)neither equilibrium price nor equilibrium quantity will change

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Definitions:

Stratified Random Sampling

A sampling method that involves dividing a population into smaller groups, or strata, and randomly selecting participants from each stratum.

Cluster Sampling

A sampling technique where the population is divided into clusters, and a random sample of these clusters is selected for study.

Numerical Composition

The arrangement or structure of numbers or quantities within a particular domain or dataset.

Simple Random Sampling

A sampling method where each member of a population has an equal chance of being included in the sample.