Figure 3-4 -Refer to Figure 3-4.If the Current Market Price Is $10

question 25

Multiple Choice

Figure 3-4

-Refer to Figure 3-4.If the current market price is $10, the market will achieve equilibrium through

• A)a price increase, increasing the supply and decreasing the demand.
• B)a price decrease, decreasing the supply and increasing the demand.
• C)a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
• D)a price increase, increasing the quantity supplied and decreasing the quantity demanded.

---

Definitions:

Cognitive Dissonance Theory

A theory suggesting that individuals experience discomfort when holding two or more conflicting cognitions (beliefs, attitudes, or values), leading to an alteration in one of the cognitions to reduce the discomfort.

Alcoholics Anonymous

A self-help organization and mutual aid fellowship for individuals who struggle with alcoholism, offering peer support to achieve and maintain sobriety.

Attitude Change

The process by which an individual's general feelings, beliefs, and behaviors towards a person, object, or event are altered.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more contradictory beliefs, values, or ideas simultaneously.