-Using the data in the above table
A) the variables quantity and price are positively related.
B) the variables quantity and price are negatively related.
C) the variables quantity and price are neither positively nor negatively related.
D) an increase in price is likely to cause an increase in quantity.

Question

-Using the data in the above table
A) the variables quantity and price are positively related. 
B) the variables quantity and price are negatively related. 
C) the variables quantity and price are neither positively nor negatively related. 
D) an increase in price is likely to cause an increase in quantity.

Quizplus · Accepted Answer

The variables quantity and price are negatively related if, as the price increases, the quantity demanded or supplied decreases, or vice versa. This relationship is typical in demand curves, where higher prices tend to lead to lower quantities demanded.

-Using the Data in the Above Table