-Refer to the Above Figure

question 390

Multiple Choice

-Refer to the above figure. Suppose the demand curve shifts from DA to DB, while the supply curve remains at SA. Which of the following statements is FALSE?

• A) There has been an increase in demand.
• B) Supply has increased.
• C) More consumers in the market might have caused the demand curve to shift.
• D) The new equilibrium price is P2, and the new equilibrium quantity is F.

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Definitions:

Labour Budget

An estimation of the total cost of labor needed to meet production goals, often part of a company's overall budgeting process.

Selling and Administrative

Expenses associated with the general operations of a business, including costs related to sales, marketing, and the management of the company.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as materials and labor.

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.