It Is Certain That the Equilibrium Quantity Will Fall When

question 138

Essay

It is certain that the equilibrium quantity will fall when:
A.the supply curve and the demand curve both shift to the right.
B.the supply curve shifts to the right and the demand curve shifts to the left.
C.supply curve shifts to the left and demand shifts to the right.
D.supply shifts to the left and demand stays the same

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Definitions:

Assigning Probabilities

The process of determining the likelihood of various outcomes in an experiment or situation.

Equally Likely

A situation where all outcomes of an experiment or event have the same probability of occurring.

Mutually Exclusive

Characteristics of events that cannot occur at the same time within a single experiment or trial.

Sample Space

The set of all possible outcomes or results in a probability experiment.