When the Supply of a Good Increases and the Demand

question 306

Multiple Choice

When the supply of a good increases and the demand for the good remains unchanged,consumer surplus

• A) decreases.
• B) is unchanged.
• C) increases.
• D) may increase, decrease, or remain unchanged.

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Definitions:

Legal Heirs

Individuals who are legally entitled to inherit a deceased person's property under the laws of intestacy if there is no will.

Invalid

Not acceptable according to law or void of legal significance; lacking in correctness or truth.

Witnesses

Individuals who observe or are present at an event and can provide testimony or evidence about what occurred.

Escheats

A legal process through which unclaimed or abandoned property reverts to the state.