Refer to the Accompanying Diagram

question 47

Multiple Choice

Refer to the accompanying diagram. Which of the following scenarios would explain this change in equilibrium?

• A) A number of firms left the market.
• B) A number of buyers entered the market, and a number of firms entered the market.
• C) The price of a complement of this good increased.
• D) The price of a substitute of this good increased.
• E) The price of this good decreased.

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Definitions:

Marketing Ethics

The area of applied ethics dealing with the moral principles behind the operation and regulation of marketing.

Environment

The sum of all external conditions and influences affecting the life, development, and survival of organisms, including natural, built, and social surroundings.

Corporate Social Responsibility

The commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.

Shareholders

Individuals or entities that own shares of stock in a corporation, giving them a stake in the company's ownership, profits, and decisions.