All Else Constant,an Increase in the Number of Buyers in the Market

question 2

Multiple Choice

All else constant,an increase in the number of buyers in the market for cell phone service would cause:

• A)equilibrium price and quantity to increase.
• B)equilibrium price and quantity to decrease.
• C)equilibrium price to increase and equilibrium quantity to decrease.
• D)equilibrium price to decrease and equilibrium quantity to increase.

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Definitions:

Substance Goals

Objectives that aim for the achievement of tangible, measurable outcomes or results in an organization.

Substance Goal

A specific, tangible, and measurable objective that an individual or organization aims to achieve.

Express Warranty

Any description of a good’s physical nature or its use, either in general or specific circumstances, that becomes part of a contract.

Puffing

refers to exaggerated or hyperbolic comments about a product or service that are subjective opinions, not intended to be taken as facts or guarantees.