If There Occurs a Permanent Decrease in the Demand for Convenience

question 33

Multiple Choice

If there occurs a permanent decrease in the demand for convenience store services, _____ in the long run​

• A)each store will incur economic loss
• B)the price charged by each store will increase​
• C)there will be a decrease in the number of such stores​
• D)there will be an increase in the number of such stores​
• E)each store will earn economic profit​

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Definitions:

Garnishment

A legal process whereby a creditor obtains a court order to redirect a portion of an individual's earnings to satisfy a debt.

Class Action

An action brought on behalf of the plaintiff and others similarly situated.

Non Obstante Veredicto

A legal term meaning "notwithstanding the verdict," which allows a judge to reverse the decision of a jury if it is contrary to the law or evidence.

Settlement

The resolution of a dispute or lawsuit outside of court through negotiation, which results in an agreement that both parties consent to.