Multiple Choice
At a price of $5, Tyrone buys 10 units of a product; when the price increases to $6, Tyrone buys 8 units. Which of the following is correct about Tyrone's behavior?
A) Tyrone's demand has decreased.
B) Tyrone's demand has increased.
C) Tyrone's quantity demanded has decreased, and his demand has not changed.
D) Tyrone's quantity demanded has increased, and his demand has increased.
E) Tyrone's demand has increased, and his quantity demanded has decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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