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Which one of the following statement is true? O a. Demand for a good tends to change when you increase or decrease the price. O b. There is no relationship between demand and price. Oc. Demand for a good goes up when the price goes up. O d. Demand for a good goes down when the price goes down.

Which one of the following statement is true? O a. Demand for a good tends to change when you increase or decrease the price. O b. There is no relationship between demand and price. Oc. Demand for a good goes up when the price goes up. O d. Demand for a good goes down when the price goes down.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Which one of the following statement is true? O a. Demand for a good tends to change when you increase or decrease the price. O b. There is no relationship between demand and price. O c. Demand for a good goes up when the price goes up. O d. Demand for a good goes down when the price goes down. An increase in the price of petrol will lead to a decrease in the number of cars purchased is a statement. O a. positive O b. simple O c. complex O d. normative
Transcribed Image Text:Which one of the following statement is true? O a. Demand for a good tends to change when you increase or decrease the price. O b. There is no relationship between demand and price. O c. Demand for a good goes up when the price goes up. O d. Demand for a good goes down when the price goes down. An increase in the price of petrol will lead to a decrease in the number of cars purchased is a statement. O a. positive O b. simple O c. complex O d. normative
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