An Increase in Demand and a Decrease in Supply Occur

question 147

Multiple Choice

An increase in demand and a decrease in supply occur in a market. What happens to the equilibrium price and quantity?

• A) The equilibrium price decreases; the change in the equilibrium quantity is uncertain.
• B) The equilibrium price decreases; the equilibrium quantity increases.
• C) The equilibrium price increases; the change in the equilibrium quantity is uncertain
• D) The equilibrium price increases; the equilibrium quantity decreases.

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Definitions:

Approach Goals

Goals that focus on achieving a positive outcome or moving towards a desirable object or event.

Self-Fulfilling Goals

Objectives that motivate individuals to take actions that make the goals become a reality, often through positive thinking and proactive behavior.

Performance Goals

Objectives aimed at demonstrating competence or achieving specific standards of excellence in tasks.

Attachment Style

Patterns of expectations, needs, and emotions one exhibits in interpersonal relationships, often developed in early childhood.