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Question
Which of the following best illustrates the concept of derived demand?
A. The number of retail stores in a downtown area decreases even though demand for retail goods increases.
B. An increase in the number of new, single-family homes results from a spike in the gross national product.
C. A Chinese plastics company increases its output because of its customers' higher toy exports to the United States.
D. A heat wave results in an increased demand for air conditioners.
E. Honda reducing its car prices causes GM to do the same.
Answer
This answer is hidden. It contains 115 characters.
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