If, in response to an increase in the price of chocolate the quantity of chocolate demanded decreases, economists would describe this as
A) a decrease in demand.
B) a decrease in quantity demanded.
C) a change in consumer income.
D) a decrease in consumers' taste for chocolate.
Correct Answer:
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Q2: Table 3-1 Q2: When the price of a good falls, Q3: If the price of grapefruit rises, the Q4: The _ effect refers to the change Q5: What is the difference between an "increase Q7: The demand by all the consumers of Q10: Holding everything else constant, an increase in Q13: A change in all of the following Q15: If a demand curve shifts to the Q16: Which of the following will shift the
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