Which of the Following Statements Is Correct for a Market

question 26

Multiple Choice

Which of the following statements is correct for a market with an upward- sloping supply curve and a downward- sloping demand curve?

• A)If the demand curve shifts left and the supply curve shifts left, equilibrium price will fall.
• B)If the demand curve shifts right and the supply curve shifts left, equilibrium price will rise.
• C)If the demand curve shifts left and the supply curve shifts right, equilibrium price will rise.
• D)If the supply curve shifts right and the demand curve remains constant, equilibrium price will rise.
• E)If the supply curve shifts left and demand remains constant, equilibrium quantity will rise.

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Definitions:

Customer Expectations

The standards or criteria that consumers believe a product or service should meet, affecting their satisfaction and loyalty.

Customer Dissatisfaction

The negative feelings or reactions customers have when their expectations or needs are not met by a product or service.

External Source

An entity or information that originates from outside an organization or research study.

Reference Source

Materials or resources used to obtain information or data to support arguments, theories, or ideas.