If Demand for a Product Increases, Ceteris Paribus, the Equilibrium

question 69

Multiple Choice

If demand for a product increases, ceteris paribus, the equilibrium

• A) price increases.
• B) price decreases.
• C) price remains unchanged.
• D) quantity decreases.

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Definitions:

Cladogram

In cladistics, a branching diagram that shows the relationship among species in regard to their shared derived characters.

Common Ancestor

An ancestral species from which two or more species evolved.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, a fundamental concept in evolutionary biology.

Phenotypes

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.