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Suppose Supply Decreases and Demand Increases

question 126

Multiple Choice

Suppose supply decreases and demand increases.What effect will this have on the price?


Definitions:

Absolute Value Inequality

An inequality that contains an absolute value expression, setting constraints on the range of solutions.

Absolute Value Inequality

A mathematical statement that expresses the range of values an absolute value expression can take and still satisfy a given inequality.

Real Numbers

Any value that represents a quantity along a continuous line, including all rational and irrational numbers.

Set Notation

A method for specifying a set or collection of objects or numbers using brackets and symbols.

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