If Both Market Demand and Supply Increase Simultaneously, Then Equilibrium

question 160

Multiple Choice

If both market demand and supply increase simultaneously, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____.

• A)​indeterminate; decrease
• B)​increase; increase
• C)​increase; indeterminate
• D)​decrease; decrease

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Definitions:

Psychological Preferences

Individual tendencies or inclinations toward certain thoughts, behaviors, or ways of processing information.

Notion

A concept, idea, or understanding formed in the mind.

Self-Concept

Refers to the image or understanding a person has of themselves, including beliefs about personality traits, physical characteristics, abilities, values, goals, and roles.

Self-Efficacy

An individual's belief in their own capability to execute behaviors necessary to produce specific performance attainments.