Use the Following to Answer Question(s): Markets and Efficiency

question 175

Multiple Choice

Use the following to answer question(s) : Markets and Efficiency

-(Exhibit: Markets and Efficiency) In Panel (b) demand shifted from D₁ to D₂ reflecting a change in consumer preferences.Based upon that, which of the following statements is true?

• A) At the price of $.80, the quantity of apples demanded will now be greater than the quantity supplied.
• B) At the price of $.80, the quantity supplied of apples will now equal the quantity demanded.
• C) There is pressure for the price of apples to fall to $0.70 per pound.
• D) A shortage of apples will force the price up to the new price of $0.90.

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Definitions:

Classroom Rules

Established guidelines or expectations designed to maintain an orderly and effective learning environment in a classroom setting.

Conventional Stage

A term used in moral development theories, referring to a middle stage where individuals base their moral decisions on societal rules and norms.

Preconventional

The initial stage in Kohlberg's theory of moral development, where behavior is driven by the desire to avoid punishment and gain rewards.

Rights And Dignity

Rights And Dignity refer to the basic human rights and respect every individual deserves regardless of their status, race, gender, or beliefs.