What Happens to Equilibrium Quantity When Simultaneously the Demand Curve

question 110

Multiple Choice

What happens to equilibrium quantity when simultaneously the demand curve shifts left and the supply curve shifts right?

• A)Equilibrium quantity will increase.
• B)Equilibrium quantity will decrease.
• C)Equilibrium quantity will remain the same.
• D)Equilibrium quantity may increase,decrease,or remain the same depending on the magnitude of the shifts in demand and supply.

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Definitions:

Inputs

Elements utilized in creating products, covering workers, funds, raw materials, and electricity.

Isoquant

A curve depicting all combinations of inputs that result in the production of the same level of output.

Production Function

A mathematical model representing the relationship between the inputs used in production and the output of goods or services.

Inputs

The resources used in the production of goods and services, including labor, raw materials, and capital.