If Supply Increases and Demand Decreases, the New Equilibrium Price

question 22

Multiple Choice

If supply increases and demand decreases, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.

• A)lower; lower
• B)lower; uncertain
• C)higher; higher
• D)higher; uncertain

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Definitions:

On-The-Spot Interventions

Immediate actions taken in response to a situation or problem without prior planning.

Family System Equilibrium

The state of balance or stability within a family unit, where changes in one member's behavior can affect the entire system.

Rules

Prescribed directives or principles that govern the conduct of individuals within a society, organization, or system, ensuring order and fairness.

Diverse Families

familial groups that vary widely in composition, including differences in race, ethnicity, socioeconomic status, and structure.