When the Demand for a Good Decreases, Its Equilibrium Price

question 438

Multiple Choice

When the demand for a good decreases, its equilibrium price ________ and equilibrium quantity ________.

• A) falls; decreases
• B) falls; increases
• C) rises; decreases
• D) rises; increases

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Definitions:

Alcoholics Anonymous

A fellowship of individuals who share their experience, strength, and hope with each other to solve their common problem and help others to recover from alcoholism.

Disease Model

A model that views psychiatric disorders as similar to physical diseases, usually with an identifiable cause, predictable progression, and potential for treatment or prevention.

Abstinence

The act of refraining from indulging in an activity or consuming a substance, especially alcohol or other drugs.

Somatic

Pertaining to or affecting the body, particularly as distinct from the mind or the environment.