In Which of the Following Instances Is the Effect on Equilibrium

question 207

Multiple Choice

In which of the following instances is the effect on equilibrium price (whether it rises, falls, or remains unchanged) dependent on the magnitude of the shifts in supply and demand?

• A) demand rises and supply rises
• B) supply falls and demand remains constant
• C) demand rises and supply falls
• D) supply rises and demand falls

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Definitions:

Emerald Buddha

A revered green jade or jasper statue of the meditating Gautama Buddha, housed in the Wat Phra Kaew temple in Bangkok, Thailand.

Walking Buddha

A depiction of Buddha in motion, a style that emerged in Southeast Asia, symbolizing grace, internal spiritual movement, and the Buddha's presence in the world.

Vijayanagara's Sacred Center

The spiritual core of the Vijayanagara Empire, featuring temple complexes and religious monuments.

Garbha Griha

Hindi, “womb chamber.” In Hindu temples, the cella, the holy inner sanctum often housing the god’s image or symbol.