If Supply Decreases for a Given Demand Curve, ______

question 186

Multiple Choice

If supply decreases for a given demand curve, ______

• A) there will be an excess quantity demanded in the market, resulting in an increase in the equilibrium price and a decrease in the equilibrium quantity.
• B) there will be an excess quantity supplied in the market, resulting in a decrease in the equilibrium price and an increase in the equilibrium quantity.
• C) there will be an excess quantity demanded in the market, resulting in an increase in both the equilibrium price and quantity.
• D) there will be an excess quantity supplied in the market, resulting in a decrease in both the equilibrium price and quantity.
• E) price will fall, shifting the demand curve outward and raising the equilibrium quantity.

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Definitions:

Inhibited

The state of being held back or restrained, often referring to behavior or emotional expression that is restricted by psychological factors.

Uninhibited

Characterized by a lack of restraint or inhibition, often resulting in free and spontaneous behavior.

Developmental Problems

Developmental problems refer to delays or abnormalities in the physical, cognitive, social, or emotional development of a child, affecting their overall growth.

Mental Retardation

An outdated and offensive term formerly used to describe a person with significantly below-average cognitive functioning and deficits in adaptive behaviors; now more appropriately referred to as intellectual disability.