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If Demand Increases and Supply Simultaneously Decreases, Equilibrium Price Will

question 253

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


Definitions:

Fossil Record

The accumulation of evidence in rock layers about the history of life on Earth, including the remains or imprints of organisms from past geologic ages.

Homo Sapiens

Modern human species.

Quaternary

The most recent geological period, starting 2.58 million years ago and continuing to the present, characterized by ice ages and significant human evolution and development.

Extinction

The elimination of a species; occurs when the last individual member of a species dies; see background extinction and mass extinction.

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