In Which of the Following Situations Is the Change in the Equilibrium

question 171

Multiple Choice

In which of the following situations is the change in the equilibrium price of a good indeterminate?

• A) when supply decreases and demand increases
• B) when demand decreases and supply increases
• C) when demand remains constant and supply increases
• D) when supply and demand both decrease
• E) when supply remains constant and demand increases

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Definitions:

Pairwise Voting

A voting system where candidates are compared to each other in pairs, with the winner being the one who wins the most one-on-one comparisons.

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A financial situation in which expenditures exceed revenues, leading to a deficit that requires borrowing or budget cuts to correct.

Michael Cox

Likely refers to a notable figure; without specific context, it could point to an academic, author, or professional known by this name in a relevant field. For accurate identification, additional context is necessary.

Richard Alm

An economic journalist and author known for co-authoring publications on economic issues, notably with economist William A. "Sandy" Darity.