As a Result of a Decrease in the Number of Demanders

question 19

Multiple Choice

As a result of a decrease in the number of demanders for your firm's product, you should anticipate a ________price for your product than the current equilibrium price and a _________ equilibrium quantity than the current equilibrium quantity.

• A)higher; higher
• B)higher; lower
• C)lower; higher
• D)lower; lower

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Definitions:

Catchy Tune

A song or melody that is easily memorable and tends to stick in one's mind, often due to a simple, repetitive structure and appealing harmony.

Earshot

The range within which a sound can be heard.

Interpersonal Communication

The exchange of information, feelings, and meanings between two or more people through verbal and/or non-verbal methods.

Originates

To begin, arise, or have its starting point.