Over a Period of Time, the Equilibrium Price of a Good

question 351

Multiple Choice

Over a period of time, the equilibrium price of a good increases and the quantity decreases. All of the following could account for this situation, except

• A) an increase in the costs of production.
• B) the removal of a subsidy on the good or service.
• C) the imposition of a sales tax on the good or service.
• D) a decrease in the price of an alternative good or service that producers could also produce.

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Definitions:

Franchise Marketing

A strategy for promoting and selling franchise opportunities to potential franchisees, expanding the brand's reach.

Field Support Function

Assistance and resources provided to operational units or personnel in the field to facilitate the execution of their tasks and missions.

Diplomatic

Pertaining to the conduct by government officials of negotiations and other relations between nations or handling affairs without arousing hostilities.

Timmons Model

A framework for understanding and planning new business ventures that balances opportunity, resources, and team.