If Demand Increases and Supply Decreases

question 69

Multiple Choice

If demand increases and supply decreases,

• A)equilibrium price will fall and equilibrium quantity will rise
• B)equilibrium price and quantity will both rise
• C)equilibrium quantity will rise; equilibrium price will either rise or fall
• D)equilibrium price will fall; equilibrium quantity will either rise or fall
• E)equilibrium price will rise; equilibrium quantity will either rise, fall, or remain unchanged

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Definitions:

Methodological Weaknesses

Refers to limitations or flaws in the design, execution, or conceptual framework of a research study that can affect its reliability or validity.

Real-Life Application

Real-Life Application refers to the utilization of theoretical knowledge or concepts in practical, everyday situations.

Ethics

Ethics involves the systematizing, defending, and recommending concepts of right and wrong behavior, often guided by moral principles.

Bystander Effect

The phenomenon where individuals are less likely to offer help to a victim when other people are present.