If the Supply Curve Does Not Shift,an Increase in Demand

question 133

Multiple Choice

If the supply curve does not shift,an increase in demand results in a(n)

• A) increase in equilibrium price and a decrease in equilibrium quantity
• B) decrease in equilibrium price and a decrease in equilibrium quantity
• C) increase in equilibrium price and an increase in equilibrium quantity
• D) decrease in equilibrium price and an increase in equilibrium quantity
• E) increase in supply

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Definitions:

Price Support Program

Government initiatives intended to maintain the market price of a good or service above its equilibrium level by buying excess supply or restricting supply.

Government

The system or group of people governing an organized community, often a state.

Farmers

Individuals or entities engaged in the practice of agriculture, cultivating plants and raising livestock for food, fiber, and other products.

Total Amount

The entire quantity or sum of an item, measurement, or value, not excluding any part.