Which of the Following Is NOT One of the Steps

question 118

Multiple Choice

Which of the following is NOT one of the steps in analyzing how an event affects a market?

• A) Determine the number of market participants.
• B) Decide whether the curve shifts to the right or to the left.
• C) Determine whether the event shifts the supply, the demand, or both curves.
• D) Use a supply-demand diagram to examine how the shift(s) affect the equilibrium.

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Definitions:

Overpriced Warranties

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Behavioral Economics

A field of economics that studies how psychological, social, cognitive, and emotional factors affect economic decisions of individuals and institutions.

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Televisions with significantly larger displays than standard units, offering enhanced viewing experiences.

Fairness

The quality of treating people equally or in a way that is right and reasonable, without favoritism or bias.