In Year 1 the Price of Good X Is $10

question 203

Multiple Choice

In year 1 the price of good X is $10 and 100 units are bought and sold.In year 2 the price of good X is $13 and 230 units are bought and sold.What can explain this?

• A) The supply of good X was higher in year 2 than in year 1 and the demand for good X was the same in year 2 as in year 1.
• B) The demand for good X was higher in year 2 than in year 1 and the supply of good X was the same in year 2 as in year 1.
• C) Both the demand for,and supply of,good X were higher in year 2 than in year 1.
• D) b or c
• E) a,b,or c

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Definitions:

Intimacy

Intimacy refers to a close, familiar, and usually affectionate or loving personal relationship with another person or group.

Isolation

A state in which an individual or group is separated from others, which can be physical, social, or emotional in nature.

Autonomy

The capacity to make an informed, uncoerced decision independently.

Organizational Conflict

The discord that arises when the goals, interests, or values of different individuals or groups within an organization are incompatible.