When Both Supply and Demand Shift to the Left,the Equilibrium

question 83

Multiple Choice

When both supply and demand shift to the left,the equilibrium

• A) price always rises.
• B) price always falls.
• C) quantity always falls.
• D) quantity always rises.
• E) quantity is indeterminate.

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Definitions:

Spending Variance

A financial metric that indicates the difference between the budgeted or planned amount of spending and the actual amount spent.

Flexible Budget

A budget that is adaptable and varies according to the changes in activity level or volume.

Net Operating Income

The profit generated from a company's core business operations, excluding deductions of taxes and interest.

Facility Expenses

Costs associated with the physical locations a business operates, including utilities, maintenance, and rent or mortgage payments.