Which of the Following Would Cause an Increase in the Equilibrium

question 4

Multiple Choice

Which of the following would cause an increase in the equilibrium price and decrease in the equilibrium quantity of watermelon?

• A)a decrease in demand and an increase in supply
• B)a decrease in supply
• C)an increase in demand and an increase in supply greater than the increase in demand
• D)an increase in demand and an increase in supply

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Definitions:

Recorded

The act of documenting financial transactions in accounting records or journals.

Accrued Expenses

Expenses that have been incurred but not yet paid for or recorded through the issuance of cash or other payments.

Incurred

Refers to costs or expenses that have been consumed or experienced in the process of generating revenues.

Paid

Refers to the status of a financial obligation that has been fulfilled or settled.