Consider a Market That Is in Equilibrium

question 131

Multiple Choice

Consider a market that is in equilibrium.If it experiences both an increase in demand and a decrease in supply,what can be said of the new equilibrium?

• A)The equilibrium price and quantity will both rise.
• B)The equilibrium quantity will definitely rise,while the equilibrium price cannot be predicted.
• C)The equilibrium price will definitely rise,while the equilibrium quantity cannot be predicted.
• D)The equilibrium price and quantity will both fall.

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Definitions:

Self-defeating

Behavior patterns that ultimately undermine one's own goals or desires, often resulting from low self-esteem or negative self-perception.

Rational Functions

A type of mathematical function that expresses a ratio of two polynomial functions.

Thinking

The process of considering or reasoning about something, involving cognitive functions such as perception, memory, judgment, and reasoning.

Feeling

An emotional state or reaction, which can involve physical and psychological changes in response to a trigger.