When the Demand for a Commodity Decreases and Its Supply

question 72

Multiple Choice

When the demand for a commodity decreases and its supply is vertical we can conclude that:

• A)both price and quantity will rise.
• B)price will fall while quantity remains constant.
• C)quantity will rise while price remains constant.
• D)neither price nor quantity will change.

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Definitions:

Decision-Making Situation

A scenario in which individuals or groups need to select a course of action from among multiple alternatives.

Ethical Issues

Situations or problems requiring a choice between competing sets of principles, where following one set may result in transgressing another.

Altruistic Leader

A leader who prioritizes selflessly the well-being and interests of others above their own, often inspiring loyalty and high morale among followers.

Greatest Good

A principle aimed at achieving the highest level of benefit or welfare for the greatest number of people, often considered in ethical decision-making.