If Supply Is Unchanged,a Decrease in the Demand for Tacos

question 141

Multiple Choice

If supply is unchanged,a decrease in the demand for tacos will cause the equilibrium price to:

• A) Rise and equilibrium quantity to fall.
• B) Rise and equilibrium quantity to rise.
• C) Fall and equilibrium quantity to rise.
• D) Fall and equilibrium quantity to fall.

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Definitions:

Criteria of Interest

The specific standards or metrics that are used to evaluate or judge something.

Self-Efficacy Syndrome

A belief in one's own ability to succeed in specific situations or accomplish a task, influencing one's approach to challenges and goals.

Turnover Costs

The expenses associated with the departure of an employee from an organization, including recruitment, training, and loss of productivity costs.

Economic Utility

The total satisfaction received from consuming a good or service.