Suppose There Is a Simultaneous Increase in the Demand for Wheat

question 396

Multiple Choice

Suppose there is a simultaneous increase in the demand for wheat and increase in the supply of wheat. Which of the following will occur as a result of these simultaneous events?

• A)Both the market clearing price and equilibrium quantity will rise.
• B)The market clearing price will fall, but the equilibrium quantity will rise.
• C)The market clearing price may rise, fall, or stay the same, but the equilibrium quantity will rise.
• D)The market clearing price will fall, but the equilibrium quantity may rise, fall, or stay the same.

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Definitions:

Valid

Often refers to data or inputs that conform to specified format, rules, or ranges defined within a program or system.

Declarations

Statements in programming that specify the type and sometimes the initial value of variables, functions, and other entities.

Function Declaration

The part of a program that specifies the name, return type, and parameters of a function without defining what it does.

Address

A numeric representation of a location in memory where data is stored, often used in programming for accessing and manipulating data directly.