An Increase in the Equilibrium Quantity of a Product Will

question 70

Multiple Choice

An increase in the equilibrium quantity of a product will result

• A)when the quantity supplied of the product exceeds the quantity demanded.
• B)when there is an increase in supply and an increase in demand for the product.
• C)when there is an increase in supply and a decrease in demand for the product.
• D)when there is an decrease in demand and a decrease in the cost of inputs used to make the product.

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Definitions:

Pessimistic

A predisposition towards focusing on the negative side of situations or expecting unfavorable outcomes, accompanied by a deficiency of optimism about what lies ahead.

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The long-term ambitions or objectives that an individual seeks to achieve or accomplish.

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A condition of contentment and intense happiness that signifies overall well-being.

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The degree to which an individual participates in a broad range of social activities and engages with their community.