Assume That Both the Demand Curve and the Supply Curve

question 45

Multiple Choice

Assume that both the demand curve and the supply curve for tablet computers shift to the left but the demand curve shifts more than the supply curve.As a result,

• A)both the equilibrium price and quantity of tablet computers will decrease.
• B)the equilibrium price of tablet computers will decrease; the equilibrium quantity may increase or decrease.
• C)the equilibrium price of tablet computers may increase or decrease; the equilibrium quantity will decrease.
• D)the equilibrium price of tablet computers will increase; the equilibrium quantity may increase or decrease.

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Definitions:

Control

The ability or authority to guide or manage operations, decisions, and policies of a business or project.

Income

Earnings received by an individual or entity, including wages, salaries, investments, and other forms of compensation, which are subject to tax.

Schedule B

A section of IRS tax forms for reporting interest and dividend income.

Interest Income

Income earned from various forms of investments that pay interest, such as savings accounts, CDs, and government bonds, subject to income tax.