An Increase in Supply and a Decrease in Demand Occur

question 32

Multiple Choice

An increase in supply and a decrease in demand occur in a market. What happens to the equilibrium price and quantity?

• A) The equilibrium price decreases; the change in the equilibrium quantity is ambiguous.
• B) The equilibrium price decreases; the equilibrium quantity increases.
• C) The equilibrium price increases; the change in the equilibrium quantity is ambiguous.
• D) The equilibrium price increases; the equilibrium quantity decreases.

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Definitions:

Neuroticism

A personality trait characterized by anxiety, moodiness, worry, and other emotional instability forms.

Extraversion

A characteristic of being sociable, energetic, and having a liking for engaging with others.

Behavioral Traits

Observable and measurable behaviors that are often consistent and unique to an individual.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing patterns of thought, emotion, and behavior.