Which of the Following Always Lowers the Equilibrium Price

question 228

Multiple Choice

Which of the following always lowers the equilibrium price?

• A) an increase in both demand and supply
• B) a decrease in both demand and supply
• C) an increase in demand combined with a decrease in supply
• D) a decrease in demand combined with an increase in supply

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Definitions:

Void Contract

A contract that has no legal effect and is unenforceable from its inception due to certain legal deficiencies or violations.

Unenforceable Contract

An agreement that is not legally binding, either due to its failure to meet certain legal requirements or because it involves illegal activities.

Contractual Duties

Obligations that a party is bound to perform under the terms of a contract.

Void

That which is entirely null. A void act is one that is not binding on either party and that is not susceptible of ratification.