What Will Happen If Both the Demand for and Supply

question 60

Multiple Choice

What will happen if both the demand for and supply of a product increase simultaneously?

• A)The effect on the quantity traded is indeterminate.
• B)The quantity traded will increase.
• C)The quantity traded will decrease.
• D)The price will rise.

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Definitions:

Spreadsheet

A digital document consisting of rows and columns used to organize data, perform calculations, and manage information.

Project Data

Information collected and used during the execution of a project, including metrics, progress reports, and outcomes.

Standard Normal Variable

A normalized random variable that has a mean of 0 and a standard deviation of 1.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how much the values in a dataset deviate from the mean.