Which of the Following Statements Is Correct

question 107

Multiple Choice

Which of the following statements is correct?

• A) If demand increases and supply decreases, equilibrium price will fall.
• B) If supply increases and demand decreases, equilibrium price will fall.
• C) If demand decreases and supply increases, equilibrium price will rise.
• D) If supply declines and demand remains constant, equilibrium price will fall.

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Definitions:

Extinction

In psychology, the gradual weakening and disappearance of a conditioned response when the conditioned stimulus is no longer presented with the unconditioned stimulus.

Lever

A simple machine consisting of a rigid rod or plank that pivots, or rotates, on a fixed point called the fulcrum, used to transmit or apply force.

Pellets

Small, compressed objects or particles, often used as food for pets or as ammunition in air guns.

Discrimination

Bias and discriminatory actions against persons due to their race, age, or gender.