When the Price Is $2

question 136

Multiple Choice

When the price is $2

• A)quantity supplied is greater than quantity demanded and,therefore,price must rise to get to equilibrium.
• B)quantity supplied is less than quantity demanded and,therefore,price must fall to get to equilibrium.
• C)quantity demanded is greater than quantity supplied and,therefore,price must rise to get to equilibrium.
• D)quantity demanded is greater than quantity supplied and,therefore,price must fall to get to equilibrium.

---

Definitions:

Behavioural Methods

Approaches used to study and understand human behaviour, often through observation, interviewing, and survey methods in various settings.

Productivity Measures

Productivity measures are metrics used to evaluate the efficiency and effectiveness of production processes, often expressed in terms of output per unit of input.

Contrast Error

A performance rating error in which an employee’s evaluation is biased either upward or downward because of comparison with another employee just previously evaluated

Recency Error

A common mistake in performance evaluation where the most recent behavior of an employee disproportionately influences the overall assessment.