If Roses Are Currently Selling for $30 Per Dozen but the Equilibrium

question 37

Multiple Choice

If roses are currently selling for $30 per dozen but the equilibrium price of roses is $20 per dozen, then a:

• A)shortage exists and the market price of roses is likely to increase.
• B)shortage exists and the market price of roses is likely to decrease.
• C)surplus exists and the market price of roses is likely to increase.
• D)surplus exists and the market price of roses is likely to decrease.
• E)decrease in the supply of roses in the market is likely to occur.

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Definitions:

High Social Status

A classification indicating an individual's or group's position above others based on wealth, occupation, education, or other markers of social power or prestige.

Mate Selection

The process by which individuals choose a partner with whom to form a reproductive relationship.

Evolutionary Theory

A scientific theory that proposes species change over time through mechanisms like natural selection and genetic mutation.

Either-or-thinking

A cognitive distortion that involves viewing situations in only two categories instead of on a continuum.