Statement I: An increase in demand is an increase in the quantity people are willing to purchase at all prices.
Statement II: Much of supply and demand analysis was based on the work of Alfred Marshall.

Question

Quizplus · Accepted Answer

Statement I is true because an increase in demand means that consumers are willing to buy more of a good at every price level. Statement II is true because Alfred Marshall was a key figure in the development of supply and demand analysis.

Statement I: an Increase in Demand Is an Increase in the Quantity