What Is the Effect of a Reduction in the Price

question 157

Multiple Choice

What is the effect of a reduction in the price of steel on the equilibrium price and quantity of automobiles?

• A)Both equilibrium price and equilibrium quantity rise.
• B)Both equilibrium price and equilibrium quantity fall.
• C)Equilibrium price rises and equilibrium quantity falls.
• D)Equilibrium price falls and equilibrium quantity rises.
• E)Both equilibrium price and equilibrium quantity remain unchanged.

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Definitions:

Axons

Long, threadlike parts of a nerve cell along which impulses are conducted from the cell body to other cells.

Sympathetic Nervous

Part of the autonomic nervous system that activates the "fight or flight" response during perceived threats.

Somatic Nervous

The part of the peripheral nervous system that handles voluntary control of body movements through the control of skeletal muscles and also mediates sensory information from the external environment.

Physical Reactions

Bodily responses to stimuli, which can include reactions like sweating, shaking, or increased heart rate.