In the Market for Oranges, the Demand and Supply of Oranges

question 150

Multiple Choice

In the market for oranges, the demand and supply of oranges decrease by the same amount. The equilibrium quantity will ________ and the equilibrium price will ________.

• A) decrease; not change
• B) decrease; fall
• C) remain the same; either rise or fall
• D) remain the same; rise

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Definitions:

Platinum Catalyst

A substance containing platinum used to increase the rate of a chemical reaction without being consumed in the process, commonly used in hydrogenation reactions.

Humulene

A naturally occurring monocyclic sesquiterpene, which is a significant component of the essential oil from hops and cannabis.

Meso Dihalide

A type of dihalide compound that has a plane of symmetry, making it achiral despite having chiral centers.

Organic Product

The compound formed as the result of an organic chemical reaction.