As a Result of an Increase in Both Supply and Demand

question 5

True/False

As a result of an increase in both supply and demand, the equilibrium price decreases while the equilibrium quantity increases.

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Definitions:

Profit-maximizing Strategy

A business approach aimed at increasing a firm's profit to the highest possible level given the constraints it faces.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex, affecting societal and economic opportunities.

Age Discrimination

Unfair treatment of individuals in employment, promotion, or benefits based on their age, particularly against older workers.

Human Capital

The qualifications, acquaintance, and life experiences that a person or society possesses, assessed in light of their financial impact or charge to a business or nation.