Assume a Market Is in Equilibrium

question 215

Multiple Choice

Assume a market is in equilibrium.There is an increase in supply,but no change in demand As a result the equilibrium price ________,and the equilibrium quantity ________.

• A) rises; increases
• B) rises; decreases
• C) rises; does not change
• D) falls; decreases
• E) falls; increases

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Definitions:

Product

The result of multiplying two or more numbers together or the substances formed at the end of a chemical reaction.

Concentration

The measure of the amount of a sub-component (especially solute) in a solution, denoting how much of a substance is contained in a certain amount of another substance.

Shift

In a general sense, it refers to a change or movement from one position, state, or direction to another.

Equilibrium Constant

A number that expresses the ratio of products to reactants at equilibrium for a chemical reaction, indicating the extent of the reaction.