Given a Positively Sloped Supply Curve, a Rise in the Demand

question 44

Multiple Choice

Given a positively sloped supply curve, a rise in the demand for that commodity causes

• A)a decrease in the equilibrium price and an increase in the equilibrium quantity exchanged.
• B)an increase in both the equilibrium price and the equilibrium quantity exchanged.
• C)a fall in sales of that commodity.
• D)a shortage of other goods.
• E)a decrease in both the equilibrium price and the equilibrium quantity exchanged.

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Definitions:

Abiotic Environment

The inanimate chemical and physical components of the environment that influence living beings and ecosystem operations.

Habitat

The natural environment in which a species or population lives and grows, providing the necessary conditions for survival.

Species' Ecological Role

The unique function or position an organism or species serves in its ecosystem, influencing its survival and the diversity of life in that ecosystem.

Biological Community

A group of interacting organisms of different species living in a common location and sharing resources.