-A Decrease in Supply Will Have What Effect on Equilibrium

question 177

Multiple Choice

-A decrease in supply will have what effect on equilibrium price and quantity?

• A)Price will increase; quantity will decrease.
• B)Price will decrease; quantity will increase.
• C)Both price and quantity will increase.
• D)Both price and quantity will decrease.

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Definitions:

Constructive Conflict

A type of conflict that, when managed properly, can lead to creative problem-solving, strengthened relationships, and improved team dynamics.

Benefits

Various forms of non-wage compensation provided to employees in addition to their salaries or wages, such as health insurance, pensions, or paid time off.

Costs

A measure of the financial requirements necessary for the production of goods or provision of services.

Constructive Conflict

A type of conflict that, despite disagreements, leads to positive outcomes such as improved understanding, growth, or resolution of the problem.