If the Supply of a Good Increased, What Would Be

question 147

Multiple Choice

If the supply of a good increased, what would be the effect on the equilibrium price and quantity?

• A) Price would increase and quantity would decrease.
• B) Price would decrease and quantity would decrease.
• C) Price would increase and quantity would increase.
• D) Price would decrease and quantity would increase.

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Definitions:

Gonadotropins

Hormones produced by the anterior pituitary gland that stimulate the activity of the gonads (ovaries and testes).

Lipotropins

Hormones produced by the anterior pituitary gland, involved in fat metabolism and the stimulation of lipolysis.

Pheromones

Chemical substances produced and released into the environment by animals, including humans, that affect the behavior or physiology of others of its species.

Allomones

Chemical substances produced and released by one species that affect the behavior of another species, often functioning as a defense mechanism or to attract mates.