An Increased Equilibrium Price and a Decreased Equilibrium Quantity Results

question 36

Multiple Choice

An increased equilibrium price and a decreased equilibrium quantity results from a(an) :

• A) decrease in demand.
• B) increase in supply.
• C) decrease in supply.
• D) increase in demand.

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Definitions:

Income Before

"Income Before" generally precedes specific deductions or expenses, such as taxes or interest, indicating a subtotal of income in financial statements.

Bonus

Additional compensation given to employees as a reward for their performance or for special occasions.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, which fund Social Security and Medicare services.