Many Consumer Items Eventually Go Out of Style,and Because Fewer

question 8

Multiple Choice

Many consumer items eventually go out of style,and because fewer people want these items,demand for them drops.When this happens,we usually see production of these items stop.What happens to the equilibrium price and equilibrium quantity in a market like this?

• A) The equilibrium price goes up and equilibrium quantity goes up.
• B) The equilibrium price is indeterminate and equilibrium quantity goes up.
• C) The equilibrium price goes down and equilibrium quantity is indeterminate.
• D) The equilibrium price is indeterminate and equilibrium quantity goes down.
• E) The equilibrium price goes up and equilibrium quantity is indeterminate.

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Definitions:

Libido

In psychoanalytic theory, a term used to describe the psychic energy or drive associated with sexual instinct and desire.

Life Force

A concept referring to a universal energy or vital principle believed to animate living entities.

Shadow

An area of darkness created when an object blocks light.

Anima

In Jungian psychology, the unconscious feminine side of a man which can be reflected in dreams, fantasies, and projections.