Suppose That Demand for a Good Decreases And,at the Same

question 56

Multiple Choice

Suppose that demand for a good decreases and,at the same time,supply of the good decreases.What would happen in the market for the good?

• A)Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium price would increase,but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.

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Definitions:

Colorblind Ideology

The belief that race should not and does not matter, often criticized for ignoring systemic racism and inequalities.

Bonilla-Silva

A sociologist known for his work on racism and race relations, particularly in the context of systemic racism and color-blind racism ideologies.

Symbolic Ethnicity

A form of ethnicity that is individualistic in nature and without real social cost for the individual, often expressed through nostalgic engagement with cultural symbols.

Socially Enforced

refers to norms, behaviors, or practices that are maintained and regulated within a society through collective agreement or pressure.