Which of the following is true?
a. A fall in a good's price leads to a decrease in quantity demanded, illustrated by moving along a demand curve.
b. According to the law of demand, other things equal, when the price of a good or service falls, demand increases.c. A change in demand for chocolate bars is caused by a change in the price of chocolate bars
d. None of the above is true.
d
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The widespread adoption of computers in the workplace has likely led to
A) an increase in labor productivity because computers are a capital good. B) a decrease in labor productivity because computers are a capital good. C) an increase in the supply of labor because people are needed to operate the computers. D) no change in the quantity of labor hours. E) a decrease in human capital because computers are physical capital.
Which of the following does NOT help explain why oligopolies exist?
A) economies of scale B) mergers C) product homogeneity D) barriers to entry