Which of the Following Would Result in an Increase in Equilibrium

question 137

Multiple Choice

Which of the following would result in an increase in equilibrium price and an ambiguous change in equilibrium quantity?

• A) an increase in supply and demand
• B) an increase in supply and a decrease in demand
• C) a decrease in supply and an increase in demand
• D) a decrease in supply and demand

---

Definitions:

Change-of-Base Formula

A formula that allows the base of a logarithm to be changed, facilitating easier calculation.

Properties of Logarithms

The properties of logarithms are mathematical rules that apply to logarithmic functions, including product, quotient, and power rules.

Logarithm

The power to which a base, such as 10, must be raised to produce a given number. Expressed as \(log_{base}(number) = exponent\).

Function

A relation between sets that associates each element of a first set to exactly one element of the second set.