An Increase in Demand Causes A

question 205

Multiple Choice

An increase in demand causes a:

• A) temporary shortage at the old equilibrium price and a higher new equilibrium price and quantity.
• B) permanent shortage, leaving the equilibrium price and quantity unchanged.
• C) temporary surplus at the old equilibrium price and a lower equilibrium price and quantity.
• D) temporary shortage at the old equilibrium price, a higher new equilibrium price, and a lower new equilibrium quantity.

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Definitions:

Appraisals

What other people think about us.

Reflected Appraisals

The process by which individuals form perceptions of themselves based on how they believe others view them.

Self-Regulatory Perseveration

The continuous effort to control or regulate one's thoughts, feelings, or behaviors in a way that persists beyond the point of utility or healthfulness.

Depression

A common but serious mood disorder that affects how one feels, thinks, and manages daily activities.