If Demand Increases and Supply Simultaneously Decreases, Equilibrium Price Will

question 253

True/False

If demand increases and supply simultaneously decreases, equilibrium price will rise.

---

Definitions:

Partnership Agreement

A formal contract between two or more parties to manage and operate a business and share its profits or losses.

Wrongful Dissolution

The improper termination of a legal entity or partnership, which can give rise to legal action for damages.

Office Building

A structure designed primarily for hosting business offices and activities.

Partnership at Will

A form of business partnership without a fixed duration; any partner can dissolve it at any time under certain conditions.