Suppose That Demand for a Good Decreases And,at the Same

question 56

Multiple Choice

Suppose that demand for a good decreases and,at the same time,supply of the good decreases.What would happen in the market for the good?

• A)Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium price would increase,but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.

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Definitions:

Middle Ear

The middle ear is the part of the ear located between the eardrum and the inner ear, containing three bones known as the ossicles that transmit sound vibrations.

Bones

Rigid organs that constitute part of the endoskeleton of vertebrates, providing structure, protecting organs, and facilitating movement.

Sound Waves

Waves of sound that propagate through air or other materials, perceived when they make contact with an individual's or an animal's ear.

Amplitude

In physics, it is the maximum extent of a vibration or oscillation, measured from the position of equilibrium.