Consider a Market That Is in Equilibrium

question 6

Multiple Choice

Consider a market that is in equilibrium.If it experiences an increase in supply,what will happen? The supply curve will shift to the:

• A) right and the equilibrium price and quantity will rise.
• B) right and the equilibrium price will decrease and the equilibrium quantity will increase.
• C) right and the equilibrium price and quantity will fall.
• D) left and the equilibrium price and quantity will fall.

---

Definitions:

Foreland Basin

A structural basin located adjacent to mountain ranges, formed by the flexing of the earth's crust due to the weight of the mountain range.

Ocean-Continent Convergent Margin

A boundary between tectonic plates where an oceanic plate is subducting beneath a continental plate, leading to volcanic and seismic activity.

Fold and Thrust Belt

A series of mountainous folds and fault-driven compressions in the Earth's crust, typically found at convergent tectonic plate boundaries.

Magmas

Molten rock beneath or within the Earth's crust, from which igneous rocks are formed.