A Rightward Shift of the Demand Curve in a Market

question 55

Multiple Choice

A rightward shift of the demand curve in a market with an upward-sloping supply curve will lead to a(n)

• A)increase in equilibrium price.
• B)excess demand at the old equilibrium price.
• C)increase in quantity supplied.
• D)All of the above.

---

Definitions:

Moral Obligation

A duty or commitment to act in a manner that is considered morally right or beneficial to others.

Jurisdictional Authority

The legal power or right of a court or other entity to hear cases and make decisions based on geographic location or specific legal issues.

In Personam Jurisdiction

The legal authority of a court to make a decision affecting a particular person's rights.

Long-Arm Statute

A state statute that permits a state to obtain jurisdiction over nonresidents. The nonresidents must have certain "minimum contacts" with that state for the statute to apply.