Which of the Following Scenarios Best Describes the Change in the Equilibrium

question 124

Multiple Choice

Which of the following scenarios best describes the change in the equilibrium shown in the accompanying graph?

• A) firms entering the market
• B) firms leaving the market
• C) buyers entering the market
• D) buyers leaving the market
• E) an input cost decreasing

---

Definitions:

Logical

Pertaining to or characterized by clear, sound reasoning and coherent thought.

Ethnocentrism

Assessing a foreign culture purely through the lens of one's own cultural norms and values.

Cultural Competency

The ability to understand, communicate with, and effectively interact with people across cultures by acknowledging and respecting their beliefs and behaviors.

Culture

The shared beliefs, values, norms, and practices that characterize a group of people, shaping their behavior and understanding of the world.