Assume That Both the Demand Curve and the Supply Curve

question 118

Multiple Choice

Assume that both the demand curve and the supply curve for MP3 players shift to the right but the demand curve shifts more than the supply curve.As a result

• A)both the equilibrium price and quantity of MP3 players will increase.
• B)the equilibrium price of MP3 players will increase; the equilibrium quantity may increase or decrease.
• C)the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will increase.
• D)the equilibrium price of MP3 players will decrease; the equilibrium quantity may increase or decrease.

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Definitions:

Filiform Papillae

Thin, thread-like structures on the tongue's surface involved in sensation rather than taste.

Fungiform Papillae

Mushroom-shaped structures on the tongue, containing taste buds that are responsible for sensing sweet, sour, salty, and bitter tastes.

Circumvallate Papillae

Large taste buds located at the back of the tongue involved in the sensation of taste.

Categories of Tastes

The classification of taste into primary groups, generally recognized as sweet, sour, salty, bitter, and umami.