Assume That the Supply Curve for a Commodity Shifts to the Right

question 78

Multiple Choice

Assume that the supply curve for a commodity shifts to the right and the demand curve shifts to the left,and the shift in demand is greater than the shift in supply.Then in comparison to the initial equilibrium,the new equilibrium will be characterized by ________.

• A) a lower price and quantity
• B) a higher price and a lower quantity
• C) the same price and a lower quantity
• D) a lower price and a higher quantity

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Definitions:

Hallucinosis

A form of intoxication caused by hallucinogens, consisting of perceptual distortions and hallucinations.

Intoxication

The state of being under the influence of drugs or alcohol, leading to various physiological and psychological effects.

Tobacco

A product prepared from the leaves of the tobacco plant, primarily used for smoking, chewing, or snuffing, containing the addictive substance nicotine.

Nicotine

A stimulant drug found in tobacco products that is highly addictive and can affect brain function and behavior.