What Happens to Equilibrium Price When Simultaneously the Demand Curve

question 58

Multiple Choice

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

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

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Definitions:

Basic Goals

Fundamental objectives or aims that an individual or organization strives to achieve.

Perceived Threat

An individual's subjective assessment of the potential harm or danger that a specific situation or action may cause.

Extreme Inertia

The tendency of an object or an entity to resist any change in its state of motion or rest, greatly magnified in intensity or effect.

Institutionalize

To establish a norm, practice, or procedure as a convention or standard within an organization or society.