Consider a Market That Is in Equilibrium

question 103

Multiple Choice

Consider a market that is in equilibrium. If the market experiences a decrease in demand:

• A) the equilibrium price and quantity will rise.
• B) the equilibrium price will rise and the equilibrium quantity will fall.
• C) the equilibrium price and quantity will fall.
• D) the equilibrium price will fall and the equilibrium quantity will rise.

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Definitions:

Primary Motivator

The main driving force that compels an individual to take action or behave in a certain way.

Humiliation

A feeling of shame or embarrassment typically resulting from being made to appear foolish or incompetent.

Control

The power to influence or direct people's behavior or the course of events.

Long-Term Organization

The process of planning and managing tasks or goals over an extended period.