Solved

A Basic Assumption Used in Many Economic Models Is

Question 96

Multiple Choice

A basic assumption used in many economic models is:


A) as price goes up, the amount purchased will go up too.
B) as price goes up, less will be offered for sale on the market.
C) if the underlying theory doesn't represent reality, it is not useful.
D) ceteris paribus, which means all other things remain unchanged.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents