Assume That Both the Demand Curve and the Supply Curve

question 194

Multiple Choice

Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve.As a result

• A)both the equilibrium price and quantity of DVD players will decrease.
• B)the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease.
• C)the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease.
• D)the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.

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Definitions:

Long-term Care

A variety of services and supports to meet health or personal care needs over an extended period of time.

Older Adults

Individuals typically aged 65 or older, often characterized by increased medical, social, and physical considerations.

Residential Facilities

Living environments that provide housing and care services to individuals who cannot independently meet their own personal care needs.

Government Subsidies

Financial aid or support extended by the government to sectors, businesses, or individuals, usually aimed at promoting economic and social policies.