Multiple Choice
Assume the demand for product Y increases and the subsequent market system responses result in the production of more Y.This illustrates:
A) that the concept of derived demand is inapplicable.
B) that consumer sovereignty is inoperative in this economy.
C) the scarcity function of prices.
D) the directing or guiding function of prices.
Correct Answer:
Verified
Correct Answer:
Verified
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