Multiple Choice
The city of Barlow is known for its wide variety of ice cream shops.What will happen if Nick's Ice Cream Palace raises the price of its shakes?
A) Demand will decrease by a greater proportion than the price.
B) Demand will increase by a greater proportion than the price.
C) The quantity demanded will decrease by a greater proportion than the price.
D) The quantity demanded will increase by a greater proportion than the price.
E) Demand will not change.
Correct Answer:
Verified
Correct Answer:
Verified
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