Use the Following to Answer Question(s): Shifts in Demand and Supply

question 81

Multiple Choice

Use the following to answer question(s) : Shifts in Demand and Supply

-(Exhibit: Shifts in Demand and Supply) Assume that the market in Panel (a) is in equilibrium at point M.Compared to the initial equilibrium at point N, what changes could explain what happened in this market?

• A) supply decreased
• B) demand decreased
• C) both demand and supply decreased
• D) both demand and supply increased

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Definitions:

Situational Control

The extent to which individuals can influence or manipulate the conditions or environment of a given situation to achieve desired outcomes.

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