If the Supply of Bottled Water Decreases and at the Same

question 27

Multiple Choice

If the supply of bottled water decreases and at the same time the demand for bottled water increases, the equilibrium price ________ and the equilibrium quantity ________.

• A) might rise, fall, or stay the same; decreases
• B) might rise, fall, or stay the same; increases
• C) falls; increases
• D) rises; might increase, decrease, or stay the same

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Definitions:

High Openness

A personality trait that displays a high level of creativity, curiosity, and a willingness to explore new ideas.

Broad Minded

An attitude or approach that is open to a wide range of ideas, beliefs, and opinions, often involving tolerance and understanding.

Adapting Changes

The process of modifying behaviors, processes, or strategies in response to internal or external shifts in the environment.

Locus of Control

A psychological concept that refers to how strongly people believe they have control over the situations and experiences that affect their lives.