A Simultaneous Shift to the Right of Both Supply and Demand

question 22

Multiple Choice

A simultaneous shift to the right of both supply and demand will:

• A)increase the equilibrium price
• B)decrease the equilibrium price
• C)increase the equilibrium quantity
• D)decrease the equilibrium quantity

Understand the concept and implications of the "rotten apple" theory in police corruption.

Grasp the definition and significance of whistleblowing within police departments.

Recognize the models of policing and their distinctive features, focusing on coercion.

Define and assess the ethical considerations of gratuities in policing.

---

Definitions:

Average Fixed Cost

Average Fixed Cost refers to the total fixed costs (costs that do not change with the level of output) divided by the quantity of output produced. It decreases as production increases.

Total Variable Cost

The total of expenses that vary directly with the level of production, such as raw materials and direct labor.

Marginal Product

The additional output resulting from the use of one more unit of a production input, keeping other inputs constant.

AVC

Average Variable Cost, which is the total variable costs divided by the quantity of output produced.