A change in price will lead to a change in __________ and to a change in __________,while a change in preferences will lead to a change in __________ and a change in the prices of relevant resources will lead to a change in __________.
A) quantity supplied; demand; income; supply
B) demand; quantity supplied; supply; quantity demanded
C) quantity supplied; supply; quantity supplied; demand
D) quantity supplied; quantity demanded; demand; supply
E) quantity supplied; quantity demanded; supply; demand

Question

Quizplus · Accepted Answer

A change in price affects the quantity supplied and quantity demanded. A change in preferences affects demand, and a change in the prices of relevant resources affects supply.

A Change in Price Will Lead to a Change in __________