If the Equilibrium Price of a Good Increases and the Equilibrium

question 222

Multiple Choice

If the equilibrium price of a good increases and the equilibrium quantity of the good decreases,we can conclude that

• A) demand increased.
• B) demand decreased.
• C) supply increased.
• D) supply decreased.

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Definitions:

Contributory Negligence

A legal principle where the plaintiff's own negligence played a role in the harm they suffered, which can limit or prevent recovery from the defendant.

Privity

A legal doctrine ensuring that contracts are only enforceable by and against parties that are directly involved in the agreement.

Tort Theory

A framework in legal theory that addresses compensation for wrongs and harms caused by one party to another.

Foreseeable

Something that could reasonably be anticipated or expected to happen.