In the Figure Given Below, D₁ and S₁ Are the Initial

question 36

Multiple Choice

In the figure given below, D₁ and S₁ are the initial demand and supply curves for a commodity in the market.Figure 3.3
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-If both supply and demand for a good increase, which of the following will definitely happen?

• A)Equilibrium price will remain the same
• B)Equilibrium price will increase
• C)Equilibrium price will decrease
• D)Equilibrium quantity will increase
• E)Equilibrium quantity will decrease

Comprehend the concepts of market entry and exit and their impact on market dynamics and pricing.

Identify the factors influencing price setting in competitive markets and how they relate to consumer benefits.

Analyze scenarios where market conditions shift and predict the response from firms and the market as a whole.

Understand the concept of entrepreneurship and its crucial role in fostering economic growth and innovation.

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Definitions:

Controlled

Managed or governed according to rules or principles to maintain order or regulation.

Cured

The complete resolution of a disease or disorder, with no ongoing symptoms or effects of the condition.

Chronic Illness Trajectory

The long-term pattern or course of a chronic illness, which may include periods of worsening symptoms, stability, and possibly improvement.

Illness Etiology

The study and analysis of the causes or reasons behind a particular disease or medical condition.