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

question 169

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 for a normal good:

• A) supply has increased and price has increased.
• B) demand has increased and price has increased.
• C) demand has decreased and price has fallen.
• D) demand has increased and price has fallen.

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Definitions:

Caldera

A vast crater on a volcano, often resulting from a major eruption and subsequent collapse of the volcano's opening.

Magma

Igneous rocks form from this liquid rock that exists below the Earth's surface, cooling and solidifying over time.

Past Eruptions

Historical instances of volcanic activity where molten rock (lava), volcanic ash, and gases were expelled from a volcano.

Central Crater

The main depression at the summit of a volcano, formed by explosive ejection of material and collapse of the area above the magma chamber.