Suppose That Both the Equilibrium Price and Quantity of Ketchup

question 11

Multiple Choice

Suppose that both the equilibrium price and quantity of ketchup fall. The most consistent explanation for these observations is:

• A)a decrease in demand for ketchup with no change in supply.
• B)an increase in demand for ketchup with no change in supply.
• C)an increase in demand for ketchup and a decrease in the supply of ketchup.
• D)an increase in the supply of ketchup with no change in demand.

---

Definitions:

Major Reaction

A term referring to the primary or most significant chemical reaction occurring in a mixture where multiple reactions may be possible.

Perform Transformation

The process of converting one chemical compound into another through a chemical reaction.

Cattell's Trait Theory

A personality framework developed by Raymond Cattell, categorizing human personality traits into sixteen primary factors.

Seminary

An institution for religious training, often for priests, ministers, or rabbis.