-Assume Demand Remains Unchanged at D1

question 153

Multiple Choice

-Assume demand remains unchanged at D1.If supply shifts from S2 to S1,then the equilibrium price will ________ and the equilibrium quantity will __________.

• A) rise;fall
• B) rise;rise
• C) fall;fall
• D) fall;rise
• E) rise;be indeterminate

Comprehend the principles of equity theory, including how perceptions of inequity can influence employee behavior.

Grasp McClelland's acquired needs theory and how it differs from other motivation theories.

Recognize the importance of job enrichment and how it relates to motivator factors.

Understand the role of expectations in Vroom's expectancy theory, including the concepts of expectancy, instrumentality, and valence.

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Definitions:

Past Data

Refers to historical information or records that have been collected and archived, which can be used for analyzing trends, making predictions, or understanding historical contexts.

Future

A period of time that has not yet happened but will come after the present.

Marketing Researchers

Professionals specialized in gathering, analyzing, and interpreting data about markets, consumers, and trends to inform business decisions.

Willingness to Buy

The extent to which a consumer is ready to purchase a product or service, based on factors like price, quality, and personal preference.