In the Market for Oranges, We Observe That the Equilibrium

question 43

Multiple Choice

In the market for oranges, we observe that the equilibrium price increased and the equilibrium quantity increased. What could have caused this change?

• A) an increase in supply and a decrease in demand
• B) an increase in demand
• C) a decrease in supply
• D) an increase in supply

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Definitions:

Pay Flexibility

The ability of employers to adjust wages based on factors such as market conditions, employee performance, or economic pressures.

Functional Flexibility

The ability of an organization to adapt and respond to changes by reallocating and utilizing its resources or workforce in different functions or roles.

Procedural Flexibility

The ability to adapt and change procedures and processes to meet different circumstances or preferences.

Written Rules

Formal guidelines and regulations that are documented and used to govern the actions and behaviors of members within an organization or society.