If Demand Increases and Supply Simultaneously Decreases, Equilibrium Price Will

question 253

True/False

If demand increases and supply simultaneously decreases, equilibrium price will rise.

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Definitions:

FTC Act

The Federal Trade Commission Act is a piece of legislation, established in 1914, aimed at preventing unfair or deceptive business practices and promoting competition.

Antitrust Laws

Legislation aimed at preventing monopolies and promoting competition by regulating business practices that might restrict trade or competition.

Monetary Award

A monetary award is a financial sum given to a party, often as compensation for a legal claim or recognition of achievements.

Profits

The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.