Which of the Following Events Will Cause a Decrease in the Equilibrium

question 70

Multiple Choice

Which of the following events will cause a decrease in the equilibrium price?

• A) a government tax on output
• B) a decrease in income for an inferior good
• C) an increase in the price of a substitute good
• D) lower input prices

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Definitions:

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when entrusted with care of money or property.

Votes

Formal indications of a choice made from among options or decisions, often used in the context of elections or decision-making processes in organizations.

Revised Model Business Corporation Act

An updated model statue designed to serve as a comprehensive guide for the structuring and governance of corporations in the United States.

Fiduciary Duty of Care

A legal obligation of one party to act in the best interest of another when entrusted with the care of their assets or interests.