If a Market Begins in Equilibrium and Then the Demand

question 137

Multiple Choice

If a market begins in equilibrium and then the demand curve shifts leftward,a

• A) shortage is created, which is eliminated by a fall in price.
• B) shortage is created, which is eliminated by a rise in price.
• C) surplus is created, which is eliminated by a fall in price.
• D) surplus is created, which is eliminated by a rise in price.
• E) surplus is created, which is eliminated by the supply curve shifting leftward.

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Definitions:

Neutral To Receptive

The process of changing an audience's attitude from indifferent or uninterested to positive and open-minded.

Benefits Of Complying

Advantages or positive outcomes resulting from adhering to rules, regulations, or guidelines.

Routine Requests

Commonplace or regularly occurring solicitations or inquiries.

Specific Action

A particular or well-defined behavior or task that is directed toward the completion of a goal.