When the Supply of a Good Decreases and the Demand

question 54

Multiple Choice

When the supply of a good decreases and the demand for the good remains unchanged,consumer surplus

• A)decreases.
• B)is unchanged.
• C)increases.
• D)may increase,decrease,or remain unchanged.

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Definitions:

Lifetime

The duration or period from an individual's birth to their death, or the existence span of an object or concept.

Increased

Describes a situation or quantity that has grown or become larger or greater in size, amount, intensity, or degree.

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Partners who have chosen to live apart but are not legally divorced; this can be a temporary or long-term arrangement often preceding divorce.

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The act of re-establishing a romantic relationship between individuals who had previously parted ways.