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

question 161

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Exhibit 3-4 Exhibit 3-4 -In Exhibit 3-4, if D<sub>1</sub> and S<sub>1</sub> are the original supply and demand curves and D<sub>2</sub> and S<sub>2</sub> are the new curves, respectively, then A) demand has decreased. B) the original equilibrium quantity was Q<sub>1</sub>. C) supply has increased. D) the new equilibrium quantity is Q<sub>4</sub>. E) supply has decreased.
-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

Definitions:

Supply-Chain Management

The coordination and integration of logistics, purchasing, and operations to manage the flow of goods, services, and information from suppliers to customers efficiently.

Marketing

The process of promoting, selling, and distributing a product or service.

Quality Standards

Preset criteria that products, services, or processes must meet to ensure they are fit for their purpose and meet customer or regulatory requirements.

Tangible Product

A physical item that can be seen, touched, and possessed, in contrast to services or digital goods.

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