In Each of the Following Situations,list What Will Happen to the Equilibrium

question 106

Essay

In each of the following situations,list what will happen to the equilibrium price and the equilibrium quantity for a particular product,which is an inferior good.
a.The population decreases and productivity increases
b.The income increases and the price of inputs increase
c.The number of firms in the market decreases and income decreases
d.Consumer preference decreases and the price of a complement increases
e.The price of a substitute in consumption increases and the price of a substitute in production increases

---

Definitions:

Attachment Style

A pattern of emotional bonding and relationship behavior that stems from one's early interactions with caregivers, affecting future relational dynamics.

Securely Attached

A classification in attachment theory indicating an individual who has a positive view of self and others, leading to healthy, adaptive social and interpersonal relationships.

Low Anxiety

A state characterized by minimal feelings of tension, worry, or nervousness, often associated with a sense of calm or tranquility.

Low Avoidance

A characteristic of individuals who do not actively evade or try to prevent uncomfortable or negative situations.