A Simultaneous Increase in Demand and Decrease in Supply Would

question 106

Multiple Choice

A simultaneous increase in demand and decrease in supply would lead to:

• A)​An increase in the equilibrium price and a decrease in the quantity sold.
• B)​An increase in both the equilibrium price and the quantity sold.
• C)​A decrease in both the equilibrium price and the quantity sold.
• D)​An uncertain effect on the equilibrium quantity but an increase in the equilibrium price.

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Definitions:

Verifiable Work

Tasks or projects that can be substantiated or confirmed, often relevant in contexts where proof of performance or achievement is required.

Deliverables

Refers to the tangible or intangible outcomes that a project or part of a project is expected to produce as an agreed-upon deliverable to a customer or project sponsor.

Scenario Planning

A strategic planning method used to create and analyze different future scenarios to aid decision-making under uncertainty.

Contingency Planning

The process of preparing for unexpected events by developing strategies to mitigate their potential impact on operations.