If the Demand Curve for Bikes Shifts Leftward and the Supply

question 249

Multiple Choice

If the demand curve for bikes shifts leftward and the supply curve for bikes shifts rightward, the equilibrium

• A) quantity of bikes definitely increases.
• B) quantity of bikes definitely decreases.
• C) price of bikes definitely decreases.
• D) price of bikes definitely increases.

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Definitions:

Raw Materials Inventory

Items and components stored by a company that will be used in the production or manufacturing process to create finished goods.

Making Products

Turning raw materials, components, or parts into completed products that fulfill a customer's demands or specifications is the process involved.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including cost of materials and labor.

Finished Goods

Items that are fully manufactured but remain unsold to consumers.