Which of the Following Statements Is Correct

question 10

Multiple Choice

Which of the following statements is correct?

• A)A change in demand or supply can only be caused by a change in price.
• B)A simultaneous decrease in demand and increase in supply will result in an increase in equilibrium price and uncertain effect on quantity.
• C)If price is currently above equilibrium, market adjustments will result in a decrease in price and quantity supplied.
• D)An increase in supply invariably leads to a shortage in the affected market.

Evaluate the effects of training and education on improving judgment and reasoning tasks.

Illustrate how different types of thinking (judgment, reasoning, decision making, problem solving) are related to behavior.

Understand the concept of average product and how to calculate it.

Grasp the concept of marginal product and its calculation.

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