Consider a Market That Is in Equilibrium

question 84

Multiple Choice

Consider a market that is in equilibrium.If it experiences both an increase in demand and an increase 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:

Personality Differences

Variations among individuals in regards to their characteristics, behaviors, and emotional patterns, which are influenced by genetic, environmental, and developmental factors.

Genetics

The branch of biology that deals with heredity and variation in organisms, explaining how traits are passed from parents to offspring.

Heredity

The passing of traits from parents to offspring through genes.

Gender

A social construct that refers to the roles, behaviors, activities, and attributes that a given society considers appropriate for men, women, and other gender identities.