Exhibit 3-4 -In Exhibit 3-4, If D₁ and S₁ Are the Original

question 161

Multiple Choice

Exhibit 3-4
-In Exhibit 3-4, if D₁ and S₁ are the original supply and demand curves and D₂ and S₂ are the new curves, respectively, then

• A)demand has decreased.
• B)the original equilibrium quantity was Q₁.
• C)supply has increased.
• D)the new equilibrium quantity is Q₄.
• E)supply has decreased.

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Definitions:

Milgram Study

A controversial psychological experiment conducted by Stanley Milgram, which aimed to measure the willingness of participants to obey authority figures, even when actions conflicted with personal conscience.

Victim

An individual who suffers harm, injury, or is subjected to a negative action by another individual or as a result of circumstances.

Obey

To follow the commands or guidance of someone or something.

Milgram

Refers to Stanley Milgram, a psychologist known for his research on obedience to authority, including the famous Milgram experiment.