In the Long Run, If the Demand Curve in a Decreasing

question 25

Multiple Choice

In the long run, if the demand curve in a decreasing cost market shifts up and to the right, then:

• A)equilibrium price goes down and quantity goes up.
• B)equilibrium price goes up and goes down.
• C)equilibrium price and quantity go down.
• D)equilibrium price and quantity go up.

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Definitions:

Situational Factors

External circumstances or conditions that influence an individual's behavior or decisions at a given time, without being a reflection of inherent personality traits.

Eating Habits

The patterns and preferences related to food consumption that are developed over time, influenced by cultural, social, and personal factors.

Interpersonal Trust

The belief in the reliability, truth, ability, or strength of others within personal or professional relationships.

Minimal Goal Level

The lowest standard or objective that an individual aims to achieve within a specific timeframe or context.