Consider a Market That Is in Equilibrium

question 72

Multiple Choice

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

• A) the equilibrium price and quantity will fall.
• B) the equilibrium quantity will fall, but the change in the equilibrium price cannot be predicted.
• C) the equilibrium price will fall, but the change in the equilibrium quantity cannot be predicted.
• D) the equilibrium price and quantity will rise.

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Definitions:

Top Management Team Conscientiousness

The collective attention to detail, diligence, and organizational abilities of a company's top management team.

Organizational Performance

The ability of an organization to achieve its goals and objectives, often evaluated based on criteria such as profitability, efficiency, and satisfaction among stakeholders.

Extraversion

A personality trait characterized by outgoingness, high energy, and positive emotions in social situations and interactions.

Agreeableness

A personality trait characterized by compassion, cooperativeness, and a desire to maintain positive social relationships.