Use the Following to Answer Question(s): the Demand for Chocolate-Covered

Multiple Choice

Use the following to answer question(s) : The Demand for Chocolate-Covered Peanuts
Quantity Demanded
(bags per month)

-(Exhibit: The Demand for Chocolate-Covered Peanuts) If the price of chocolate-covered peanuts increases from 40 cents to 50 cents, Dan will reduce his quantity demanded from 160 bags to 140 bags due to:

A) the law of demand.
B) the law of supply.
C) a decline in his income.
D) a change in his tastes and preferences.