Multiple Choice
Which of the following is an example of the law of demand?
A) An increase in the price of magnetic optical disks is followed by a reduction in the amount of magnetic optical disks purchased.
B) An increase in the price of tablets is followed by an increase in the sale of tablets.
C) A decrease in the price of milk has no effect on the amount of milk consumed.
D) The amount of smartphones sold increases while the price of smartphones is constant.
Correct Answer:
Verified
Correct Answer:
Verified
Q230: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q231: Demand is a schedule that shows<br>A) a
Q232: A schedule of how much of a
Q233: A surplus occurs whenever<br>A) price is below
Q234: Suppose it is discovered that consumption of
Q236: A demand curve is derived from<br>A) the
Q237: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q238: A change in the ceteris paribus conditions
Q239: Adding the quantities demanded by all consumers
Q240: The direct relationship between changes in price