Which of the Following Would Definitely Cause an Increase in the Equilibrium

question 120

Multiple Choice

Which of the following would definitely cause an increase in the equilibrium price and an increase in the equilibrium quantity of watermelons?

• A)an increase in demand and an increase in supply
• B)an increase in supply
• C)an increase in supply and an increase in demand greater than the increase in supply
• D)a decrease in demand and an increase in supply

Understand the concept of natural monopolies and recognize examples in the economy.

Identify and understand barriers to entry in monopoly markets.

Assess the long-term sustainability of monopoly power under different conditions.

Understand the impact of monopolies on consumer choices and prices.

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Definitions:

Unions

Organizations that represent the collective interests of workers in negotiations with employers about wages, working conditions, benefits, and other aspects of employment.

Company Performance

An assessment of a firm's operational efficiency, profitability, and financial health.

Wages

The fixed regular payment, typically calculated on an hourly or daily basis, paid by an employer to an employee for their labor.

Type II Error

The statistical mistake of failing to reject a false null hypothesis, also known as a "false negative".