When Demand Increases in a Perfectly Competitive Market, the Market

question 132

Multiple Choice

When demand increases in a perfectly competitive market, the market price _______ in the short run and _______ in the long run.

• A)increases; decreases
• B)decreases; increases
• C)increases; permanently stays high
• D)decreases; permanently stays low

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Definitions:

Vertebrates

Animals with a backbone or spinal column, including mammals, birds, reptiles, amphibians, and certain fish.

Primate Lineage

The evolutionary path and family tree of the primate order, which includes humans, monkeys, and apes.

Lemurs

A diverse group of primates native to Madagascar, known for their large eyes and nocturnal habits, playing key roles in their ecosystems.