The Market for Diamond Rings Is Closely Linked to the Market

question 110

Multiple Choice

The market for diamond rings is closely linked to the market for high-quality diamonds.If a large quantity of high-quality diamonds enters the market,then the

• A)supply curve for diamond rings will shift right,which will create a shortage at the current price.Price will increase,which will decrease quantity demanded and increase quantity supplied.The new market equilibrium will be at a higher price and higher quantity.
• B)supply curve for diamond rings will shift right,which will create a surplus at the current price.Price will decrease,which will increase quantity demanded and decrease quantity supplied.The new market equilibrium will be at a lower price and higher quantity.
• C)demand curve for diamond rings will shift right,which will create a shortage at the current price.Price will increase,which will decrease quantity demanded and increase quantity supplied.The new market equilibrium will be at a higher price and higher quantity.
• D)demand curve for diamond rings will shift right,which will create a surplus at the current price.Price will decrease,which will increase quantity demanded and decrease quantity supplied.The new market equilibrium will be at a lower price and higher quantity.

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Definitions:

Victim Mentality

A mindset where an individual consistently perceives themselves as the victim of circumstances beyond their control, potentially hindering their ability to take responsibility for their actions.

Interactional Justice

The perceived fairness of the interpersonal treatment employees receive from their employers.

Informational Justice

The perceived fairness of the processes and methods used to distribute information within organizations or social systems.

Distributive Justice

The perceived fairness of the distribution of resources, benefits, and burdens within a society or organization.