Multiple Choice
If, in response to an increase in the price of chocolate the quantity of chocolate demanded decreases, economists would describe this as
A) a decrease in demand.
B) a decrease in quantity demanded.
C) a change in consumer income.
D) a decrease in consumers' taste for chocolate.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: If a union successfully negotiates for higher
Q29: Suppose that when the price of raspberries
Q62: If the demand for a product increases
Q110: Figure 3-7<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 3-7
Q123: The _ effect refers to the change
Q180: Assume that the price for swimming pool
Q214: The following appeared in a Florida newspaper
Q217: Because new plastic and recycled plastic are
Q242: If the demand for a product increases
Q430: An decrease in quantity supplied is represented