Consider a Local Market for 4-Litre Containers of Windshield-Wiper Fluid

question 157

Multiple Choice

Consider a local market for 4-litre containers of windshield-wiper fluid.In January 2015,100 000 containers were sold at a price of $3 each.In March 2015,120 000 containers are sold at a price of $8 each.Does this change in equilibrium price and quantity violate the "law of demand"?

• A)Not necessarily,because the supply curve could have shifted to the right,leading to an increase in equilibrium price and quantity.
• B)Not necessarily,because the demand curve could have shifted to the right,leading to an increase in equilibrium price and quantity.
• C)Not necessarily,because the demand curve could have shifted to the left,leading to an increase in equilibrium price and quantity.
• D)Not necessarily,because the supply curve could have shifted to the left,leading to an increase in equilibrium price and quantity.
• E)No,because the "law of demand" is not valid.

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Definitions:

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A medical tool used to dilate the vagina for examination of the vagina and cervix.

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Proper Temperature

The optimal or required temperature necessary to maintain the efficiency, safety, or survival of a process, organism, or device.

Sterilization

A process aimed at destroying all forms of living microorganisms to prevent infection and contamination.