Which One of the Following Correctly Describes How Price Adjustment

question 108

Multiple Choice

Which one of the following correctly describes how price adjustment eliminates a shortage?

• A)As the price rises,the quantity demanded decreases and the quantity supplied increases.
• B)As the price rises,the quantity demanded increases and the quantity supplied decreases.
• C)As the price falls,the quantity demanded decreases and the quantity supplied increases.
• D)As the price falls,the quantity demanded increases and the quantity supplied decreases.
• E)As the price falls,the quantity demanded increases and the quantity supplied increases.

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Definitions:

Modern Artificial Intelligence

Refers to the current state of technology enabling machines to simulate human intelligence, including learning, problem-solving, and decision-making.

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Cognitive Approach

A psychological perspective that emphasizes the importance of mental processes in how people perceive, remember, think, and solve problems.

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Variabilities among people in their behaviors, cognition, personality, and other attributes.