If Market Supply Increases

question 61

Multiple Choice

If market supply increases:

• A) equilibrium price and quantity will both increase.
• B) equilibrium price and quantity will both decrease.
• C) equilibrium price will increase but equilibrium quantity will decrease.
• D) equilibrium price will decrease but equilibrium quantity will increase.

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Definitions:

Congress

A bicameral legislative body of the federal government of the United States, consisting of two chambers: the Senate and the House of Representatives.

Ripeness

A legal principle that determines the readiness of a case for litigation, ensuring that a dispute has evolved enough to be resolved.

Pro-Se

Representing oneself in a legal proceeding without the assistance of a lawyer.

Cross-Examine

The questioning of a witness in a court of law by the party opposing the one who called the witness, aimed at assessing the veracity or credibility of their testimony.