Assume a Competitive Market Is in Equilibrium

question 81

Multiple Choice

Assume a competitive market is in equilibrium.There is an increase in demand,but no change in supply.As a result,the equilibrium price ________,and the equilibrium quantity ________.

• A)rises;does not change
• B)rises;increases
• C)falls;does not change
• D)falls;increases
• E)falls;decreases

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Definitions:

Budgetary Requirements

encompass the financial resources needed to support an activity, project, or organization, including estimates of income and expenditures.

Labor Laws

Regulations that govern the relationship between employers and employees, covering aspects such as employment terms, working conditions, and labor rights.

Task Behaviors

Activities and actions taken to achieve a specified objective or complete a job.

Coordination

The organization of different elements or activities in a way that enables them to work together efficiently and effectively.