The Price of a Good Always Changes When

question 134

Multiple Choice

The price of a good always changes when

• A) either a shortage or a surplus occurs.
• B) quantity demanded and quantity supplied are constant.
• C) there is an increase in demand and an increase in supply.
• D) there is a decrease in demand and a decrease in supply.

---

Definitions:

Street Racers

Individuals who participate in unauthorized and illegal racing of motor vehicles on public roads.

Best Response

A strategy in game theory where a player makes the optimal choice considering the strategies of other players.

Simultaneous Game

A situation in game theory where all players make their decisions and execute their strategies at the same time without knowledge of the other players' choices.

Street Racers

Individuals who participate in unauthorized and often illegal racing of motor vehicles on public roads.