Which of the Following Scenarios Best Describes the Change in the Equilibrium

question 106

Multiple Choice

Which of the following scenarios best describes the change in the equilibrium shown in the accompanying graph?

• A) firms entering the market
• B) firms leaving the market
• C) buyers entering the market
• D) buyers leaving the market
• E) an input cost decreasing

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Definitions:

Flexibility Types

Various classifications of adaptability in an organization, including but not limited to workflow, workforce, and product/service flexibility.

Employee Concerns

Issues or problems raised by employees related to their work environment, job duties, management practices, or workplace relationships.

Just In Time

A management strategy that aligns raw-material orders from suppliers directly with production schedules to increase efficiency and reduce waste.

Continuous Improvement

An ongoing effort to improve products, services, or processes through incremental and breakthrough improvements.