If the Demand for Gem-Quality Diamonds Decreases AND the Supply

question 133

Multiple Choice

If the demand for gem-quality diamonds decreases AND the supply of gem-quality diamonds decreases,what can be said about equilibrium price and quantity in this market?

• A) Equilibrium price and quantity will both fall.
• B) Equilibrium price and quantity will both rise.
• C) Equilibrium quantity will fall, but the change in equilibrium price is uncertain.
• D) Equilibrium quantity will rise, but the change in equilibrium price is uncertain.

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Definitions:

Values-Based Practice

An approach to healthcare and decision-making where the values of patients, including those of a moral, spiritual, cultural, and emotional nature, are given priority in clinical decisions.

Evidence-Based Practice

A methodological approach where decisions are made based on the integration of best available research, clinical expertise, and patient preferences.

Goal-Driven Practice

A therapeutic approach that focuses on setting and working towards specific, measurable objectives for client improvement.

Seeking Supervision

The act of requesting guidance, support, or oversight from a more experienced professional, especially in a clinical or therapeutic context, to enhance one’s practice or resolve specific issues.