Assume That Both the Demand Curve and the Supply Curve

question 118

Multiple Choice

Assume that both the demand curve and the supply curve for MP3 players shift to the right but the demand curve shifts more than the supply curve.As a result

• A)both the equilibrium price and quantity of MP3 players will increase.
• B)the equilibrium price of MP3 players will increase; the equilibrium quantity may increase or decrease.
• C)the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will increase.
• D)the equilibrium price of MP3 players will decrease; the equilibrium quantity may increase or decrease.

Recognize the role of economic structures in driving social change and the development of societal organization.

Comprehend the process of urbanization and its implications for community life and social interaction.

Apply sociological theories to analyze demographic trends and their societal impacts.

Understand the concept of production in economics.

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Definitions:

Edward Bernays

was an American pioneer in the field of public relations and propaganda, widely considered the father of public relations for his groundbreaking work in the early 20th century.

Smoking

The act of inhaling and exhaling the smoke of tobacco or a drug.

Product Placement

is a marketing strategy where branded goods or services are prominently displayed or incorporated into media content, such as films or TV shows, for promotional purposes.

Romantic Comedies

A genre of movies that combines elements of romance and humor, focusing on relationships and love stories.