A Decrease in Supply, Holding Demand Constant, Will Cause

question 61

Multiple Choice

A decrease in supply, holding demand constant, will cause

• A) higher prices and a larger quantity sold.
• B) higher prices and a smaller quantity sold.
• C) lower prices and a smaller quantity sold.
• D) lower prices and a larger quantity sold.

---

Definitions:

R&D-Manufacturing

The connection between research and development (R&D) activities and manufacturing processes, focusing on turning innovative ideas into tangible products efficiently.

Marketing Planning

The process of defining marketing strategies and tactics, and allocating resources to achieve marketing objectives.

Goals

Statements of an accomplishment of a task to be achieved, often by a specific time. Also called objectives.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates.