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If Both the Supply of and the Demand for a Good

question 29

Multiple Choice

If both the supply of and the demand for a good decrease simultaneously, but the decrease in supply is greater than the decrease in demand, then the equilibrium price _____ and equilibrium output _____.


Definitions:

Peripheral Membership

A form of association where individuals are marginally involved or partially included in a group or organization.

Core Membership

Describes individuals who are considered to be at the essential or central part of a group, organization, or community.

Survival Skills

Skills that enable an individual to sustain life in challenging or dangerous situations, such as in natural environments.

Social Identities

Individuals' conception and perception of themselves derived from their membership in social groups, including nationality, ethnicity, gender, and occupation, among others.

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