Which Would Characterize the Response in Equilibrium Price and Quantity

question 239

Multiple Choice

Which would characterize the response in equilibrium price and quantity if demand falls during the market period, ceteris paribus?

• A) Both price and quantity fall.
• B) Only price falls.
• C) Only quantity falls.
• D) There is no change in either price or quantity.

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Definitions:

Circulatory

Pertaining to the circulation, especially the movement of blood through the heart and blood vessels.

Congestive Heart Failure

A chronic condition where the heart doesn't pump blood as well as it should, leading to symptoms like shortness of breath, edema, and fatigue.

Leukemia

A type of cancer that affects the blood and bone marrow, characterized by the overproduction of abnormal white blood cells.

Respiratory

Pertaining to or affecting respiration or the organs involved in breathing.