When the Supply of Good a Decreases

question 61

Multiple Choice

When the supply of good A decreases,

• A)the equilibrium price and the equilibrium quantity will increase.
• B)the equilibrium price will increase,but the equilibrium quantity will decrease.
• C)the equilibrium price and the equilibrium quantity will decrease.
• D)the equilibrium price will decrease,but the equilibrium quantity will increase.
• E)a surplus will result.

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Definitions:

Young Adulthood

A stage of human development that typically ranges from the late teens to early thirties, characterized by exploration of personal and professional life paths.

Birth Order

A concept that suggests the order in which a child is born within their family impacts their personality and psychological development.

Stable Personality Characteristics

Enduring traits or qualities that define an individual's behavior across different situations and over time.

Deficient

Lacking in some necessary quality or element; not having enough of a specified quality.