Which of the Following Statements Is True

question 55

Multiple Choice

Which of the following statements is true?

• A)An increase in demand causes an increase in equilibrium price;the increase in price causes supply to increase.
• B)A decrease in supply causes equilibrium price to rise;the increase in price then results in a decrease in quantity demanded.
• C)If both demand and supply decrease,there must be a decrease in equilibrium price;equilibrium quantity may either increase or decrease.
• D)If demand increases and supply decreases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater.

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Definitions:

1970s

A decade characterized by significant political, social, and cultural changes worldwide, spanning from 1970 to 1979.

Co-acting Work Groups

Groups whose members perform their tasks independently but in a shared space or context, often with minimal direct collaboration.

Coordination

The process of organizing activities and resources efficiently and effectively to achieve set objectives.

Cooperation

The process of working together towards the same end, involving mutual benefit and shared goals.