The Price of X Was $10 in Year 1 and $14

question 168

Multiple Choice

The price of X was $10 in year 1 and $14 in year 2.Which of the following could be the correct reason for the rise in price?

• A) The demand for X was higher in year 2 than in year 1,ceteris paribus.
• B) The supply of X was lower in year 2 than in year 1,ceteris paribus.
• C) The demand was higher,and the supply was lower,in year 2 than in year 1.
• D) a and b
• E) a,b,and c

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Definitions:

Social Identity

An individual's sense of who they are, based on their group memberships, such as social, cultural, and occupational groups.

International Student

A student who attends an educational institution in a country where they are not a citizen.

Menarche

The beginning of reproductive capability in a female, indicated by the first menstruation.

Stagnation

A period of little or no growth, development, or progress, often marked by a sense of inactivity or lack of advancement.