Which of the following is most likely to be an example of the law of demand in action?
A) A decrease in the price of milk has no effect on the amount of milk consumed.
B) The amount of candy sold increases while the price of candy remains constant.
C) An increase in the price of eggs is followed by an increase in the sales of eggs.
D) An increase in the price of gasoline is followed by a reduction in gasoline sales.
Correct Answer:
Verified
Q2: The law of demand states that,other things
Q3: The law of demand states that,ceteris paribus,
A)a
Q4: The price of a movie increased from
Q5: Bill quits his job to pursue an
Q6: The relative price of a good is
Q8: In determining the demand for a good,economists
A)hold
Q9: In economics,the term "demand" refers to
A)the quantity
Q10: If other factors remain constant,the Canadian government's
Q11: The price of a new textbook was
Q12: An increase in the price of coffee,holding
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