Petrol prices increase by 50 per cent and other things remain the same. As a result, there is
A) an increase in the demand for petrol.
B) a decrease in the quantity of petrol demanded.
C) a decrease in the demand for petrol.
D) no change in the quantity of petrol demanded.
E) More information is needed to determine if the demand for petrol increases or decreases.
Correct Answer:
Verified
Q1: The price of cotton clothing falls. As
Q2: The market demand curve
A) cannot show a
Q4: The phrase 'a change in demand' most
Q5: A change in the demand for apples
Q6: A demand schedule
A) shows the quantity demanded
Q7: eBay
A) is not a market because buyers
Q8: A market is defined as
A) a physical
Q9: Which of the following shifts the demand
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Q11: What is the 'quantity demanded'?
A) The amount
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