If the Demand for Bathing Suits and Supply of Bathing

question 241

Multiple Choice

If the demand for bathing suits and supply of bathing suits both decrease, then definitely the equilibrium

• A) price will decrease.
• B) price will increase.
• C) quantity will increase.
• D) quantity will decrease.

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Definitions:

Utility Formula

A mathematical equation used to quantify the overall value or utility of a particular action, decision, or investment in various fields.

Break-even Analysis

A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, used in both project planning and business management.

Utility

In economics, a measure of satisfaction or benefit derived from consuming goods and services.

Learning and Development

A strategic process aimed at enhancing employee skills, knowledge, and competency, contributing to organizational growth.