When the Demand for a Good Decreases, Its Equilibrium Price

question 53

Multiple Choice

When the demand for a good decreases, its equilibrium price ________ and equilibrium quantity________.

• A)falls; increases
• B)rises; increases
• C)rises; decreases
• D)falls; decreases

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Definitions:

Alcohol

A chemical substance found in drinks such as beer, wine, and spirits that can alter consciousness and often leads to intoxication.

Percent

A mathematical term representing a part or fraction of a hundred.

Substance Intoxication

Substance Intoxication pertains to the temporary, detrimental psychological and physiological effects resulting from the ingestion of or exposure to psychoactive substances.

Central Nervous System

The part of the nervous system consisting of the brain and the spinal cord, responsible for processing and transmitting information in the body.