Multiple Choice
How do the variables price and quantity demanded relate to each other?
A) Price and quantity demanded are independent of each other.
B) Price is the dependent variable and quantity demanded is the independent variable.
C) Price is the independent variable and quantity demanded is the dependent variable.
D) Price and quantity demanded are both dependent variables, since both depend on the actions of buyers and sellers.
Correct Answer:
Verified
Correct Answer:
Verified
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