Assume a Market Is in Equilibrium

question 39

Multiple Choice

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

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

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Definitions:

Distantly Related

Distantly related organisms share a common ancestor far back in their evolutionary history, indicating they are part of different subgroups within a broader taxonomic category.

Similar Environments

Refers to ecosystems or habitats that share comparable characteristics, such as climate, vegetation types, or geographical features.

Generalist Species

Organisms that can thrive in a wide variety of environmental conditions and can make use of a variety of different resources.

Broad Niche

An ecological concept referring to the ability of a species to tolerate a wide range of environmental conditions and use varied resources, allowing it to live in many different habitats.