The Figure Given Below Represents the Equilibrium Price and Output

question 39

Multiple Choice

The figure given below represents the equilibrium price and output in the market for restaurant meals and delivery meals.
Figure 4.1

-Refer to Figure 4.1. The demand for Restaurant Meals shift in one direction while the demand for Delivery meals shift in another direction. This implies:

• A) the demand for Restaurant Meals increased while that for Delivery Meals decreased.
• B) the demand for Restaurant Meals decreased while that for Delivery Meals increased.
• C) the demand for Restaurant Meals increased while that for Delivery Meals increased.
• D) the demand for Restaurant Meals decreased while that for Delivery Meals decreased.
• E) the demand for Restaurant Meals and the demand for Delivery Meals adds up to 1.

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Definitions:

Cognitive Development

Cognitive development encompasses the progression and enhancement of thinking, problem-solving, and decision-making abilities from infancy through adulthood.

Object Permanence

The cognitive understanding that objects continue to exist even when they cannot be seen, heard, or touched.

Centration

Young children’s tendency to focus on only one feature of an object to the exclusion of all other features.

Decentration

The cognitive ability to consider multiple aspects of a situation simultaneously, essential for understanding concepts like conservation in Piaget's theory of cognitive development.