When consumers' tastes and preferences for a product improve and the supply remains unchanged:
A) the quantity demanded of the product falls.
B) the supply curve becomes steeper.
C) the price of the product reduces.
D) the equilibrium quantity increases.
Correct Answer:
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Q13: Which of the following statements is assumed
Q14: A change in the supply of a
Q15: Which of the following statements is true?
A)
Q16: With a given supply curve, if the
Q17: Which of the following statements is correct?
A)
Q19: At the equilibrium price, _.
A) buyers have
Q20: If the consumer's income level increases leading
Q21: With demand remaining unchanged, which of the
Q22: The quantity of corn supplied to the
Q23: With a given demand curve, an increase
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