Consider a Market That Is Currently in Equilibrium

question 7

Multiple Choice

Consider a market that is currently in equilibrium. If the demand curve shifts to the right and a new equilibrium is reached:

• A) total surplus will increase.
• B) consumer surplus may increase or decrease.
• C) producer surplus will increase.
• D) producer surplus will decrease.

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Definitions:

Ethics Training

Educational sessions or programs designed to inform individuals about moral principles and standards of conduct relevant to their profession or daily activities.

Ethical Dilemmas

Situations where a person must choose between two morally correct but conflicting actions, and the choice made could lead to a violation of ethical principles.

Ethical Behaviour

Ethical behaviour refers to actions that are morally right and beneficial to both the individual and society, following principles of fairness, integrity, responsibility, and respect.

WHMIS Training

Workplace Hazardous Materials Information System Training; educational programs designed to inform workers about the safe handling, storage, and use of hazardous materials in the workplace.