If a Demand Curve Shifts to the Left, Then

question 39

Multiple Choice

If a demand curve shifts to the left, then:

• A) the equilibrium price would go up and the equilibrium quantity would go down.
• B) the equilibrium price would go down and the equilibrium quantity would go up.
• C) a lower equilibrium price and quantity would result.
• D) a higher equilibrium price and quantity would result.

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Definitions:

Weighted Average

A calculation that takes into account the different weights or importance of some elements in a data set, providing a mean value that reflects these weights.

Standard Deviation

A numerical indicator that calculates the degree of spread or deviation of data points from their average.

Payoffs

The outcomes or benefits received from a particular action or decision, often used in the context of game theory.

Standard Deviation

A measure of the dispersion or variation in a set of values, indicating how much they deviate on average from the mean.