Use the Following to Answer Question(s): Simultaneous Shifts in Demand

question 222

Multiple Choice

Use the following to answer question(s) : Simultaneous Shifts in Demand and Supply

-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves.In this market, following the adjustment shown:

• A) both demand and supply increased.
• B) price fell and quantity increased.
• C) quantity had to increase, given the changes in supply and demand.
• D) all of the above are true.

---

Definitions:

Strategy

A plan of action designed to achieve a long-term or overall goal.

CEO

Chief Executive Officer; the highest-ranking executive in a company, responsible for making major corporate decisions and managing overall operations.

Board of Directors

A group of individuals elected by shareholders to oversee the management and make major decisions for a company.

Corporate Level

Corporate level refers to the highest layer of strategic decision-making in an organization that affects the entire company.