Equilibrium Quantity Will Unambiguously Decrease When

question 290

Multiple Choice

Equilibrium quantity will unambiguously decrease when

• A) demand increases and supply does not change,when demand does not change and supply decreases,and when both demand and supply decrease.
• B) demand increases and supply does not change,when demand does not change and supply increases,and when both demand and supply decrease.
• C) demand decreases and supply does not change,when demand does not change and supply increases,and when both demand and supply decrease.
• D) demand decreases and supply does not change,when demand does not change and supply decreases,and when both demand and supply decrease.

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Definitions:

Estoppel

A legal principle that prevents someone from arguing something contrary to a claim they previously made or an action they took.

Authority

The right or power to act or to make a decision.

Third Party

An individual or group aside from the two primarily involved in a situation, agreement, or transaction, often providing additional services or playing a neutral role.

Principal

The primary party involved in a contractual agreement or the original amount of money lent or invested before interest.