A Decrease in Demand Will Have What Effect on Equilibrium

question 142

Multiple Choice

A decrease in demand will have what effect on equilibrium price and quantity?

• A)Price will increase; quantity will decrease.
• B)Price will decrease; quantity will increase.
• C)Both price and quantity will increase.
• D)Both price and quantity will decrease.

Explain the basic principles of arousal theory and the Yerkes-Dodson Law.

Comprehend Maslow's hierarchy of motives and its sequential order.

Recognize the importance of self-actualization in human motivation.

Understand how hormones and bodily functions influence desire and motivation.

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Definitions:

Cumulative Frequency

The running total of frequencies up to a certain point in a set of data.

Total Number

The cumulative count of all elements or instances within a specific set or collection.

Upper Class Limits

The maximum value within a class interval in a frequency distribution, where classes are used to group data.

Class Width

In statistics, the difference between the upper and lower boundaries of a class interval in a frequency distribution.