Which of the Following Scenarios Would Explain the Change in Equilibrium

question 67

Multiple Choice

Which of the following scenarios would explain the change in equilibrium shown in the accompanying figure?

• A) an increase in an input price
• B) a decrease in the number of buyers in a market
• C) an increase in the price of a substitute good
• D) an increase in the expected future price
• E) a negative technological change

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Definitions:

Mathematical Model

A representation of a system using mathematical concepts and language, used to study the behavior of complex systems.

Asexual Reproduction

The generation of offspring without the fusion of gametes, resulting in genetically identical copies of the parent.

Prostate Gland

A gland in male animals that produces an alkaline secretion that is part of the semen.

Parthenogenesis

A mode of reproduction in which offspring are produced by a female without male contribution, often involving the development of embryos from unfertilized eggs.