Suppose That the Market for Computers Is Initially in Equilibrium

question 66

Multiple Choice

Suppose that the market for computers is initially in equilibrium. Further suppose that there is an increase in the price of computer software. Which of the following accurately describes the new equilibrium in the computer market?

• A)The equilibrium price will rise; the equilibrium quantity will fall.
• B)The equilibrium price will rise; the equilibrium quantity will rise.
• C)The equilibrium price will fall; the equilibrium quantity will fall.
• D)The equilibrium price will fall; the equilibrium quantity will rise.

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Definitions:

Performance

The act of carrying out or accomplishing tasks and activities, measured against pre-determined standards or goals.

Attitude-Behavior Link

The connection between an individual's attitudes or beliefs and their subsequent behaviors or actions.

Self-Monitoring

The extent to which individuals regulate their behavior to adapt to social situations, based on their awareness of social cues and their desire to be socially accepted.

Attitude Relevance

The degree to which an individual's belief, feeling or behavior is connected or pertinent to their values, interests, or identity.