The Law of Demand Implies That, Other Things Remaining the Same

question 130

Multiple Choice

The law of demand implies that, other things remaining the same,

• A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded decreases.
• B) as the demand for cheeseburgers increases, the price of a cheeseburger falls.
• C) as more people demand cheeseburgers, the quantity demanded increases.
• D) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded increases.
• E) as income increases, the quantity of cheeseburgers demanded increases.

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Definitions:

Teamwork

The process of people actively working together interdependently to accomplish common goals.

Compete

To strive against opponents for the purpose of achieving an objective, such as winning a game, securing a job, or achieving market dominance.

Win-Win Solution

A resolution to a dispute or negotiation that is beneficial to all parties involved.

Substance Goals

Goals in negotiation that are concerned with outcomes.