An Increase in Demand for a Product and a Reduction

question 76

Multiple Choice

An increase in demand for a product and a reduction in the costs of production would:

• A)​increase the equilibrium quantity and increase the equilibrium price.
• B)​increase the equilibrium quantity and decrease the equilibrium price.
• C)​increase the equilibrium quantity and cause an indeterminate change in the equilibrium price.
• D)​decrease the equilibrium quantity and cause an indeterminate change in the equilibrium price.

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Definitions:

Closed-Ended

Referring to questions or formats that limit responses to a predefined set of options, allowing for easier quantification of results.

Loaded

Charged with meaning, emotion, or bias, often used to describe words, questions, or situations in a psychological context.

Double-Barreled

Referring to questions or items that inadvertently address multiple issues, making it unclear which part the response pertains to.

Negatively Worded

Referring to questions or statements that are phrased in a manner that assumes a negative outcome or context.