When Both Supply and Demand Decrease,the Equilibrium Price ________ and Equilibrium

question 86

Multiple Choice

When both supply and demand decrease,the equilibrium price ________ and equilibrium quantity ________.

• A) increases; increases
• B) is indeterminate; increases
• C) decreases; is indeterminate
• D) increases; is indeterminate
• E) is indeterminate; decreases

Comprehend the principles governing the formation and breach of contracts, including the consequences of repudiation and tender.

Grasp the specifics of the United Nations Convention for the International Sale of Goods (CISG) on contract performance, breach, and remedies.

Understand the role and function of letters of credit in international trade transactions.

Identify the legal requirements and consequences of accepting nonconforming goods under sales law.

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, entering into contracts, and owning assets.

Corporate Form

A legal structure for organizing a business as a separate legal entity, distinct from its owners, with its own rights and liabilities.

Advantages

The positive aspects or benefits associated with a decision, strategy, or action.

Franchise

A business model where a franchisee obtains the rights to operate a business under the franchisor's brand and system in exchange for a fee.