​ In Exhibit  3-15, If the Market Price of Good X

question 114

Multiple Choice

​
In Exhibit  3-15, if the market price of good X is initially $.50, a movement toward equilibrium requires:

• A) no change, because an equilibrium already exists.
• B) the price to fall below $.50 and both the quantity supplied and the quantity demanded to rise.
• C) the price to remain the same, but the supply curve to shift to the left.
• D) the price to rise above $.50, the quantity supplied to rise, and the quantity demanded to fall.

---

Definitions:

Individualized Consideration

A leadership approach that involves personalized attention to the needs and development of followers.

Transformational Leader

A type of leader who inspires positive changes in those who follow, by focusing on transforming others to help each other and the organization.

Achievement and Growth

The pursuit and attainment of objectives, coupled with personal or organizational development.

Intellectual Stimulation

The process or activities involved in challenging and enhancing an individual's mental capacity and understanding.