The Market for Lemonade Is in Equilibrium and the Price

question 62

Essay

The market for lemonade is in equilibrium and the price of lemons rises.How will this affect the lemonade market?
A.Demand will decrease, decreasing the price and decreasing the quantity.
B.Demand will decrease, increasing the price and decreasing the quantity.
C.Supply will increase, decreasing the price and increasing the quantity.
D.Supply will decrease, increasing the price and decreasing the quantity.

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Definitions:

Strategic

Pertaining to the long-term goals and planning of a business, particularly in terms of allocation of resources to achieve these goals.

Goal Congruence

The alignment of individual objectives and behaviors with the overall goals and direction of the organization, aiming for harmony and unified effort.

Organisation Goals

The aims or targets that an organization seeks to achieve, which guide its overall strategy and direction.

Manager's Behaviour

The actions, strategies, and practices employed by a manager in guiding, leading, and managing a team or an organization.