If the Decrease in the Supply of a Product Is

question 97

Multiple Choice

If the decrease in the supply of a product is greater than the increase in its demand, _____.

• A)the price will rise, but the quantity traded will fall
• B)the price will rise, but the quantity traded could either rise or fall
• C)the price will fall, but the quantity traded could either rise or fall
• D)the quantity traded will rise, but the price could either rise or fall
• E)the price will remain the same, but the quantity traded will fall

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Definitions:

Service Systems

Configurations of technology, processes, people, and other resources that provide services to customers.

Process-Oriented Facilities

Facilities designed to manage and improve the processes involved in production or service delivery, focusing on workflow and efficiency.

Dynamic Scheduling

A strategic approach to arranging, controlling, and allocating resources and tasks in real-time to optimize workflow and efficiency.

Rapid Changes

Swift transformations or modifications in conditions, technology, market dynamics, or operational processes.