Many Consumer Items Eventually Go Out of Style,and Because Fewer

question 8

Multiple Choice

Many consumer items eventually go out of style,and because fewer people want these items,demand for them drops.When this happens,we usually see production of these items stop.What happens to the equilibrium price and equilibrium quantity in a market like this?

• A) The equilibrium price goes up and equilibrium quantity goes up.
• B) The equilibrium price is indeterminate and equilibrium quantity goes up.
• C) The equilibrium price goes down and equilibrium quantity is indeterminate.
• D) The equilibrium price is indeterminate and equilibrium quantity goes down.
• E) The equilibrium price goes up and equilibrium quantity is indeterminate.

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Definitions:

Chronic Disease

A medical condition persisting for a long time, often longer than three months.

Controlled

Managed or governed according to rules or principles to maintain order or regulation.

Cured

The complete resolution of a disease or disorder, with no ongoing symptoms or effects of the condition.

Chronic Illness Trajectory

The long-term pattern or course of a chronic illness, which may include periods of worsening symptoms, stability, and possibly improvement.