Multiple Choice
The law of demand states that, other things being equal, a decrease in the price of a good will result in
A) a surplus.
B) an increase in the quantity willingly purchased.
C) a decrease in the quantity willingly purchased.
D) greater production of the good.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q18: Economists use the term 'perfect competition' for
Q19: Which one of the following would shift
Q20: If dividend yields on Sainsbury's shares are
Q21: A free market is a market with<br>A)
Q22: The position at which a demand curve
Q24: Which of the following will cause a
Q25: In a perfectly competitive market <br>A) only
Q26: Two goods are complementary if the price
Q27: The following diagram shows the demand curve
Q28: What might cause a demand curve to