If the Equilibrium Price of a Good Increases and the Equilibrium

question 222

Multiple Choice

If the equilibrium price of a good increases and the equilibrium quantity of the good decreases,we can conclude that

• A) demand increased.
• B) demand decreased.
• C) supply increased.
• D) supply decreased.

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Definitions:

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A legal principle requiring certain types of contracts to be written and signed to be enforceable.

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