Multiple Choice
At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has decreased. Is Martha correct?
A) Yes, Martha is correct. Sam's demand has decreased.
B) No, Martha is incorrect. Sam's demand has increased.
C) No, Martha is incorrect. Sam's quantity demanded has decreased, and his demand has not changed.
D) No, Martha is incorrect. Sam's quantity demanded has increased, and his demand has increased.
E) No, Martha is incorrect. Sam's demand has increased, and his quantity demanded has decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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