If Demand Decreases by a Greater Amount Than Supply Increases,then

question 15

Multiple Choice

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

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

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Definitions:

Losses

Financial or material reductions resulting from business activities or other endeavors.

Negligence

Failure to take reasonable care to avoid causing injury or loss to another person.

Insurer

An entity that provides insurance policies to individuals or organizations, offering financial protection against losses from specified risks.

Fraud

Intentional deception or misrepresentation made by a person with the knowledge that the deception could result in some unauthorized benefit to oneself or some other person.