Of the Following Which Does Not Contribute to the Inverse

question 6

Multiple Choice

Of the following which does not contribute to the inverse relationship between price and quantity demanded?

• A)The scale effect
• B)The income effect
• C)The substitution effect
• D)The Law of Diminishing Marginal Utility

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Definitions:

Driveway

A private road leading from a public way to a building on the adjoining land, primarily used for vehicle access.

Profit

The right to go onto someone’s land and take part of the land or a product of it away from the land.

Apples

A type of fruit that is grown worldwide and comes in various colors, such as red, green, and yellow, known for its sweet taste and nutritious value.

Option Contract

An agreement whereby the offeree gives the offeror a piece of consideration in exchange for the offeror’s agreement to hold the offer open for a specified period of time.