Assume That Both the Demand Curve and the Supply Curve

question 194

Multiple Choice

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

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

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Definitions:

Prejudice

A preconceived opinion or bias against someone or something without reasonable justification.

Stereotyping

The act of assigning generalized attributes to an individual or group based on perceived membership in a certain category.

Social Norms

The accepted behaviors within a society or group.

Economic Cause

Factors related to the economy that can lead to various outcomes, such as changes in employment rates, inflation, or economic growth.