-In Figure1.1, If Demand Falls, Then Equilibrium

question 8

Multiple Choice

-In Figure1.1, if demand falls, then equilibrium:

• A)price and quantity fall.
• B)price and quantity rise.
• C)price falls and quantity rises.
• D)prices rises and quantity falls.

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Definitions:

Performance Report

A document or tool that evaluates and details the performance of an entity, project, or employee against expected or predefined objectives.

Activity Variances

Differences between planned activity levels and actual activity levels, often analyzed in managerial accounting to control costs.

Customers Served

The number or segment of consumers who have been provided with products or services by a business within a specific timeframe.

Planning Budget

A budget created using the expected output and efficiency at the beginning of the budget period, without any adjustments for actual activity levels.