Last Year a Firm Made 1,000 Units of Its Product

question 21

Multiple Choice

Last year a firm made 1,000 units of its product available at a price of $5 per unit.This year the firm will still make 1,000 units available,but only if the price is $7 per unit.What is most likely to have happened?

• A)Supply has increased
• B)Supply has decreased
• C)Demand has decreased
• D)Demand has increased
• E)Quantity supplied has increased

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Definitions:

Theory of Humor

A set of ideas intended to explain what humor is and what social functions it serves, including why we find certain things funny.

Defense Mechanisms

are psychological strategies used unconsciously to protect oneself from anxiety and unacceptable thoughts and feelings.

Projective Tests

Tests designed to assess unconscious material by asking test takers to respond to ambiguous stimuli.

Self-Report Inventories

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