If Demand Increases and Supply Decreases,then the

question 30

Multiple Choice

If demand increases and supply decreases,then the

• A)equilibrium quantity increases but the effect on the equilibrium price is unknown.
• B)equilibrium quantity decreases but the effect on the equilibrium price is unknown.
• C)equilibrium price falls but the effect on the equilibrium quantity is unknown.
• D)equilibrium price rises but the effect on the equilibrium quantity is unknown.
• E)effect on both equilibrium price and quantity is unknown.

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Definitions:

Central Route Persuasion

A method of persuasion that involves deeply processing the content of a message, focusing on the arguments and evidence presented.

Cognitive Structures

Mental frameworks or patterns that individuals use to organize and interpret information.

Source Credibility

The level of trustworthiness and expertise attributed to a source of information, influencing its persuasive power and impact on decisions.

Presence

Pertains to the state of being located in a particular place or the perceptible influence an entity exerts in its environment.