If Supply Decreases Along a Given Demand Curve

question 225

Multiple Choice

If supply decreases along a given demand curve,

• A)an excess quantity demanded will be created, increasing the equilibrium price and causing equilibrium quantity to fall
• B)an excess quantity supplied will be created, lowering the equilibrium price and causing equilibrium quantity to rise
• C)an excess quantity demanded will be created, raising the equilibrium price and quantity
• D)an excess quantity supplied will be created, lowering the equilibrium price and quantity
• E)price will fall, shifting the demand curve outward, raising the equilibrium quantity

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Definitions:

Successful Project

A project that meets or exceeds its goals and objectives within the given constraints such as time, budget, and quality.

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Raising funds for a project or enterprise by acquiring minor investments from a wide pool of contributors, primarily using the internet.

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A program that provides funding to expand effective solutions across communities to solve social problems.

Edward M. Kennedy

A former US Senator known for his significant contributions to healthcare reform, education, and immigration policy.