​​Exhibit 3-15 Supply and Demand Curves for Good X

question 54

Multiple Choice

​​Exhibit 3-15 Supply and demand curves for good X
-In Exhibit 3-15, if the price moves from $2.00 to $1.00, unsold inventories will:

• A) ​fall, putting upward pressure on price.
• B) ​fall, putting less pressure on price.
• C) ​rise, putting less pressure on price.
• D) ​rise, putting upward pressure on price.

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Definitions:

Average

A statistical measure representing the central or typical value in a set of data, calculated typically as the sum of the values divided by the number of values.

Volt-amperes

A unit of electrical power in an AC circuit equivalent to one volt multiplied by one ampere, used to measure apparent power.

VARs

An abbreviation for Volt-Ampere Reactive, a unit of reactive power in an electrical system, representing the non-working power in an AC circuit.

Watts

The unit of power in the International System of Units (SI), equivalent to one joule per second.