Given a Downward-Sloping Demand Curve and an Upward-Sloping Supply Curve

question 15

Multiple Choice

Given a downward-sloping demand curve and an upward-sloping supply curve for a product,a technological innovation in making the product will:

• A)increase equilibrium price and quantity
• B)decrease equilibrium price and quantity
• C)decrease equilibrium price and increase equilibrium quantity
• D)increase equilibrium price and decrease equilibrium quantity
• E)keep equilibrium price and quantity the same

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Definitions:

Stress

The psychological and physical strain or tension experienced by an individual in response to challenging or demanding situations.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome, often characterized by physical symptoms such as increased heart rate or tension.

Coping

The process of managing stressful circumstances, hardships, or challenges in an effective way.

Layoff

The temporary or permanent dismissal of employees from their job due to economic downturns, company restructuring, or other financial constraints.