Suppose That Today the Market for Lima Beans Is in Equilibrium.Tomorrow

question 87

Multiple Choice

Suppose that today the market for lima beans is in equilibrium.Tomorrow both the supply and demand curves for lima beans will shift to the left.As a result,the equilibrium price __________ and the equilibrium quantity will __________.

• A) will fall;fall
• B) will fall;rise
• C) will rise;fall
• D) cannot be determined;fall
• E) cannot be determined;rise

---

Definitions:

Financial Accounting

The branch of accounting that deals with summarizing, analyzing, and reporting business transactions to external entities, including investors and regulators.

Management Accounting

A field of accounting focused on providing financial data and advice to company managers for decision-making purposes.

Finance Manager

A professional responsible for managing the financial health of an organization, including planning, analysis, and decision making.

Financial Controller

A senior executive who oversees the accounting activities, financial reporting, and the development of internal control policies.