If Demand Increases by a Lesser Amount Than Supply Increases,then

question 1

Multiple Choice

If demand increases by a lesser amount than supply increases,then equilibrium price __________ and equilibrium quantity __________.

• A) rises; falls
• B) falls; falls
• C) rises; rises
• D) falls; rises

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.

Snow Storm

A severe weather condition characterized by high winds and heavy snowfall, impacting travel, infrastructure, and daily life.

Financial Disincentives

Economic or monetary penalties designed to discourage undesirable actions or behaviors by making them more costly.

Local Ordinance

Laws or regulations enacted by a local governing body to address issues within its jurisdiction.