If the Supply of a Product Decreases and the Demand

question 180

Multiple Choice

If the supply of a product decreases and the demand for that product simultaneously increases, then equilibrium

• A) price must rise, but equilibrium quantity may rise, fall, or remain unchanged.
• B) price must rise and equilibrium quantity must fall.
• C) price and equilibrium quantity must both increase.
• D) price and equilibrium quantity must both decline.

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Definitions:

Self-instructional Training

Self-instructional training is a cognitive behavioral technique where individuals learn to talk themselves through tasks or situations to improve performance or behavior.

Meichenbaum

A psychologist best known for his work in cognitive behavior modification and a significant contributor to cognitive-behavioral therapy.

Verbal Statements

A method of expressing thoughts, intentions, or facts through spoken language.

Mindfulness

The practice of being fully present and engaged in the moment, aware of one’s thoughts and feelings without judgment.