Which of the Following Is False

question 22

Multiple Choice

Which of the following is false?

• A) If demand increases and supply decreases, equilibrium price will go up.
• B) If demand remains constant and supply increases, equilibrium price will go down.
• C) If demand decreases and supply increases, equilibrium price will rise.
• D) If supply is unchanged and demand decreases, equilibrium price will fall.

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Definitions:

Gifts

Voluntary transfers of property or funds to another party without expecting anything in return.

Minor

A person under the legal age of adulthood, which varies by country but is commonly 18 years old.

Intoxicated

The state of being under the influence of alcohol or drugs to a degree that significantly impairs one's physical and cognitive functions.

Repudiates

The action of refusing to accept, acknowledge, or be associated with; in contract law, it refers to the refusal to fulfill contractual obligations.