Multiple Choice
If people eat more potato chips even though the price rises, it is likely that
A) demand increased.
B) supply increased.
C) demand decreased.
D) potato chips make you fat.
E) supply decreased.
Correct Answer:
Verified
Correct Answer:
Verified
Q183: Farm land can be used to produce
Q184: Without appropriately defined property rights, markets fail.
Q185: Prices rise if demand increases.
Q186: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1013/.jpg" alt=" Figure 4.2.3. -Look
Q187: In a voluntary exchange, the price must
Q189: When demand increases, price falls to eliminate
Q190: The introduction of a cost-saving technology in
Q191: Total surplus equals consumer surplus plus producer
Q192: When consumers' incomes increase, the price of
Q193: Crude oil is an important input in