If There Is an Increase in Both the Supply and Demand

question 2

Multiple Choice

If there is an increase in both the supply and demand for a good, which of the following will definitely occur?

• A) The price of the good will increase.
• B) The price of the good will decrease.
• C) The equilibrium quantity will increase.
• D) The equilibrium quantity will decrease.

Evaluate the impact of discrimination on firm efficiency and market dynamics.

Distinguish between different types of discrimination (e.g., employer, customer, statistical).

Understand the mechanisms through which competitive markets can reduce or perpetuate discrimination.

Understand the relationship between value of marginal product of labor, wage, and firm's hiring decision.

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Definitions:

Woodcarving

The art of shaping or sculpting wood into various artistic forms, utilizing different tools and techniques for decorative or functional objects.

Print Series

A set of printed artworks, usually on paper, that are related in theme, style, or subject matter, often created by the same artist.

Kitagawa Utamaro

A prominent Japanese artist known for his ukiyo-e genre woodblock prints, especially those depicting female beauties, landscapes, and flora.

Suzuki Harunobu

An 18th-century Japanese woodblock printmaker known for his contributions to the development of full-color prints or "nishiki-e."