When Supply Increases and at the Same Time Demand Decreases

question 344

Multiple Choice

When supply increases and at the same time demand decreases, we

• A) can predict that both equilibrium price and quantity will increase.
• B) can predict that both equilibrium price and quantity will decrease.
• C) cannot predict equilibrium quantity, but know that equilibrium price will decrease.
• D) cannot predict the change in either the equilibrium quantity or equilibrium price.

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A type of distribution where all outcomes are equally likely to occur across the interval.

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The duration taken to move from one location to another.

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A quantity indicating the odds or possibility of a specific event taking place, denoted as a figure between 0 and 1.