Multiple Choice
In which statement(s) are "demand" and "quantity demanded" used correctly? (I) "An increase in the price of coffee will reduce the quantity demanded of coffee."
(II) "An increase in the price of coffee will reduce the demand for cream used in coffee."
A) in both statements I and II
B) in statement I only
C) in statement II only
D) in neither statements I nor II
Correct Answer:
Verified
Correct Answer:
Verified
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