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:

Diagonals

Straight lines connecting two non-adjacent vertices in a polygon or polyhedron.

Rectangle

A quadrilateral with four right angles and two pairs of parallel and equal sides.

Deck

In construction, a flat surface capable of supporting weight, similar to a floor, but typically constructed outdoors and often connected to a building.

Origination Fee

This fee is money paid to the lending institution for the paperwork involved in the loan application process.