What Combination of Changes Would Most Likely Decrease the Equilibrium

question 170

Multiple Choice

What combination of changes would most likely decrease the equilibrium price?

• A) When supply decreases and demand increases
• B) When demand increases and supply increases
• C) When demand decreases and supply decreases
• D) When supply increases and demand decreases

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Definitions:

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Duties or commitments that an individual or entity is legally or morally bound to fulfill.

Executory Contract

An agreement between parties that has not yet been fully performed or completed by one or more parties.

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An executed contract refers to a legal agreement that has been fully performed, meaning all parties involved have fulfilled their contractual obligations.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, in the absence of an actual agreement between the parties involved.