An Increase in the Demand for LED Light Bulbs Due

question 38

Multiple Choice

An increase in the demand for LED light bulbs due to changes in consumer tastes,accompanied by an increase in the supply of LED light bulbs as a result of government subsidies,will result in

• A)an increase in the equilibrium quantity of LED light bulbs and no change in the equilibrium price.
• B)an increase in the equilibrium price of LED light bulbs and no change in the equilibrium quantity.
• C)an increase in the equilibrium price of LED light bulbs; the equilibrium quantity may increase or decrease.
• D)an increase in the equilibrium quantity of LED light bulbs; the equilibrium price may increase or decrease.

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Definitions:

Resistance

The opposition to the flow of electric current, or, in a broader sense, the opposition encountered by a force.

Solid Castings

Metal objects formed by pouring molten metal into molds without any hollow portions, resulting in a solid, uniform structure.

Abbreviation

A shortened form of a word or phrase, used to simplify detailed technical instructions or specifications.