Which of the Following Statements Is True

question 178

Multiple Choice

Which of the following statements is true?

• A)An increase in demand causes a change in equilibrium price; the change in price does not cause a further change in demand or supply.
• B)A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
• C)If both demand and supply increase there must be an increase in equilibrium price; equilibrium quantity may either increase or decrease.
• D)If demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater.

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Definitions:

Quantity of Work

The amount of work produced or completed within a certain timeframe.

Quality of Work

Quality of work refers to the degree to which a job or task is performed with excellence, accuracy, and thoroughness.

Benevolents

Individuals who are inclined to perform acts of kindness or charity.

Perceived Inequity

The belief that one is receiving less than they are giving or less than they deserve compared to others, often causing dissatisfaction.