If Supply Is Upward Sloping,a Shift of a Demand Curve

question 76

Multiple Choice

If supply is upward sloping,a shift of a demand curve to the right,all other things unchanged,will:

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

---

Definitions:

Equivalent Variation

A measure in economics that indicates the amount of money a consumer would need to reach their initial utility level after a price change.

Price Change

A variation in the cost of goods or services over time, which can be an increase or decrease.

Income

The total amount of money earned by an individual or entity from various sources, including work, investments, or benefits, over a specified period.

Utility Function

A mathematical representation in economics that describes how the satisfaction or utility a consumer derives varies with consumption of goods or services.