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.

---

Definitions:

Maintenance of Culture

The process of preserving and sustaining the characteristics, values, beliefs, and behaviors that define a specific culture or societal group over time.

Adjustment

Adjustment describes the process of adapting or becoming accustomed to new conditions, situations, or environments, often involving changes in behavior or attitudes.

Traditional Family Life Cycle

A theoretical model that outlines the typical stages a family goes through, from single adulthood through marriage, parenthood, and later life.

Unattached Young Adult

A young adult who lacks strong social connections or familial ties, often facing unique social and emotional challenges.