The Figure Given Below Represents the Equilibrium Price and Output

question 60

Multiple Choice

The figure given below represents the equilibrium price and output in the market for restaurant meals and delivery meals. Figure 4.1
-Refer to Figure 4.1.The demand for Restaurant Meals shift in one direction while the demand for Delivery Meals shift in another direction.Which of the following impacts will it have on the quantity of Restaurant Meals and Delivery meals purchased by consumers?

• A)The quantity of Restaurant Meals purchased declines while the quantity of Delivery Meals purchased rises.
• B)The quantity of Restaurant Meals purchased rises while the quantity of Delivery Meals purchased declines.
• C)Both the quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased declines.
• D)Both the quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased increases.
• E)The quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased add up to 100.

---

Definitions:

Minimum Legal Requirements

The least or lowest standards legally mandated for any entity, process or product to be compliant with relevant legislation.

Social Responsibility

The obligation of an organization or individual to act for the benefit of society at large, balancing profit-making activities with activities that benefit the community.

Defensive Strategy

A business approach aimed at protecting an organization's current market share, products, and services from competitors.

Discretionary Responsibilities

Voluntary activities and behaviors that go beyond the basic requirements of the job, intended to benefit the organization or its stakeholders.