Assume a Competitive Market Is in Equilibrium

question 99

Multiple Choice

Assume a competitive market is in equilibrium. There is an increase in demand, but no change in supply. As a result the equilibrium price _{--------------------}, and the equilibrium quantity _{--------------------}.

• A)rises; does not change
• B)rises; increases
• C)falls; increases
• D)falls; decreases
• E)falls; does not change

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In a social context, the process of being actively involved or committed to an activity, cause, or interaction.

Assessment

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Planning Stages

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A methodological approach to identifying, analyzing, and resolving issues through logical and systematic steps.