Figure 4-4 -An Increase in Demand Will Have What Effect on Equilibrium

question 274

Multiple Choice

Figure 4-4
-An increase in demand will have what effect on equilibrium price and quantity?

• A)Price will increase; quantity will decrease.
• B)Price will decrease; quantity will increase.
• C)Both price and quantity will increase.
• D)Both price and quantity will decrease.

Recognize the importance of information validation and criteria for decision making.

Comprehend the principles of ethical decision making.

Understand the role and impact of information technology in decision making.

Identify drivers and barriers to creativity in organizational decision making.

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Definitions:

Two-Track Mind

The concept that the human mind operates both consciously and unconsciously at the same time.

Effortful Processing

A type of memory encoding that requires attention and conscious effort, as opposed to automatic processing.

New Classmate

A recent addition to a class or educational setting, who may be adjusting to new social and learning environments.

Implicit Memory

A type of memory in which previous experiences aid in the performance of a task without conscious awareness of these previous experiences.