Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following occurs immediately?
A) The demand for bottled water decreases.
B) The demand for bottled water increases.
C) The quantity of bottled water demanded increases.
D) The quantity of bottled water demanded decreases.
E) None of the above answers is correct because it is the supply that immediately changes, not the demand.
B
Economics
You might also like to view...
If real GDP in 2016 (using 2009 prices) is lower than nominal GDP of 2015, then
A) prices in 2016 are higher than prices in 2015. B) prices in 2016 are lower than prices in 2015. C) real GDP in 2016 is larger than real GDP in 2015. D) nominal GDP in 2016 equals nominal GDP in 2015.
Economics
A price that discourages entry is called a
A) fair price B) limit price C) minimum price D) all of these choices
Economics