In the Short Run,a Change in the Equilibrium Price Will

question 29

Multiple Choice

In the short run,a change in the equilibrium price will

• A)always lead to inflation.
• B)cause a shift in the demand curve.
• C)cause a shift in the supply curve.
• D)cause a change in the quantity demanded or supplied.

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Definitions:

Revenues And Profits

Financial terms where 'revenues' refer to the total income generated from normal business operations, and 'profits' signify the remaining income after all expenses have been deducted.

Intermediate Court

A level of court between the lower courts and the highest courts, typically involved in hearing appeals from decisions of lower courts.

Jointly And Severally Liable

A legal term describing a situation where two or more parties can be held responsible individually or together for a debt or liability.

General Partners

Partners in a partnership who have full liability for the debts of the partnership and are involved in the management of the business.