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.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 26CTQ: What is the relationship between price elasticity and position on the demand curve? For example, as...

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Question

Best choice

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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