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Question
When the price falls, what happens?
a. There is an increase in the quantity demanded.
b. There is an increase in demand.
c. There is a decrease in the quantity demanded.
d. There is a decrease in demand.
e. There is no change in the quantity demanded or demand.
Answer
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Related questions
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The economic entity most likely to engage in price gouging is
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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