The Equilibrium Quantity of a Good Will Increase and Its

question 383

Multiple Choice

The equilibrium quantity of a good will increase and its equilibrium price might rise, fall, or stay the same when

• A) its demand and supply both increase.
• B) its demand increases and supply decreases.
• C) its demand decreases and supply increases.
• D) its demand and supply both decrease.

---

Definitions:

Identity Theft Reports

Detailed records or claims made by individuals regarding the unauthorized use and fraud of their personal information.

Consumer Reporting Agencies

Organizations that compile and provide credit histories and other financial data on individuals to creditors, employers, and landlords.

Magnuson-Moss Warranty Act

A federal law established in 1975 to improve the clarity and understanding of warranties for consumers, making warranties on consumer products more understandable and enforceable.

Implied Warranties

Legal guarantees that are not explicitly stated but are assumed in transactions, promising that goods are of a certain quality.