Over a Period of Time, the Equilibrium Price of a Good

question 351

Multiple Choice

Over a period of time, the equilibrium price of a good increases and the quantity decreases. All of the following could account for this situation, except

• A) an increase in the costs of production.
• B) the removal of a subsidy on the good or service.
• C) the imposition of a sales tax on the good or service.
• D) a decrease in the price of an alternative good or service that producers could also produce.

---

Definitions:

Formal Look

A style or appearance that adheres to traditional standards of professionalism and polish.

Proofreading

The process of reading and correcting errors in text before it is published or shared.

Message

The content or information conveyed from the sender to the receiver through various communication channels.

Reputation

The beliefs or opinions that are generally held about someone or something's character or quality.