When Only Supply or Only Demand Changes, We Can Predict

question 190

Multiple Choice

When only supply or only demand changes, we can predict the resulting changes in

• A) equilibrium price only.
• B) equilibrium quantity only.
• C) both equilibrium price and equilibrium quantity.
• D) There will be changes in neither equilibrium price nor equilibrium quantity.

---

Definitions:

Acquiescence

Silent or passive acceptance or agreement without protest.

Concealment

The act of hiding or withholding important information, particularly in legal or financial contexts.

Material

Referring to facts or information that are significant or essential to the issue or subject at hand.

Misrepresentation

A false statement of fact made by one party to another, which, while not constituting a term of the contract, induces the other party to enter the contract.