Which of the Following Combinations of Changes in Supply and Demand

question 236

Multiple Choice

Which of the following combinations of changes in supply and demand (listed in the same order) is likely to cause an indeterminate change in price?

• A)Increase/Increase
• B)Increase/Decrease
• C)Decrease/Increase
• D)Static/Decrease

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Definitions:

Tender

An offer by a party in a contract to perform, along with being ready, willing, and able to perform, a duty outlined in that contract.

Conforming Goods

Goods that meet the specifications and quality standards outlined in a purchase contract.

Course of Dealing

The behavior and pattern of actions between parties that establishes a common basis for understanding their conduct in executing agreements.

Nonconforming Goods

Goods delivered under a sales contract that fail to meet the quality or specifications agreed upon by the seller and buyer.