As a Result of a Decrease in Price

question 51

Multiple Choice

As a result of a decrease in price,

• A)new buyers enter the market, increasing consumer surplus.
• B)new buyers enter the market, decreasing consumer surplus.
• C)existing buyers exit the market, increasing consumer surplus.
• D)existing buyers exit the market, decreasing consumer surplus.

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Definitions:

United Nations Convention

An international treaty formed by member states of the United Nations to address global issues.

Foreign Arbitral Awards

Judgments or decisions made in arbitrations held in a foreign country, which are recognized and can be enforced in other jurisdictions under certain international treaties.

Recognition

The acceptance or acknowledgment of something as valid, legal, or official.

Mediation

A conflict resolution technique involving a neutral third party who helps disputing parties reach a voluntary agreement.