If Both the Supply and Demand Curves Shift to the Left

question 15

Multiple Choice

If both the supply and demand curves shift to the left, then we can conclude that there will be a(n) :

• A)​increase in the equilibrium quantity sold.
• B)​decrease in the equilibrium quantity sold.
• C)​increase in the equilibrium price.
• D)​decrease in the equilibrium price.

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Definitions:

Discrete Probability Distribution

A statistical function that represents the probability of occurrence of each value of a discrete random variable.

Sample Space

The set of all possible outcomes or events in a statistical experiment.

Flipping Three Quarters

A probabilistic experiment involving tossing three quarters and analyzing the outcomes, typically related to studying probability distributions.

Probabilities

Measures the likelihood or chance of various outcomes in a set of circumstances or an experiment.