If the Price of Peanut Butter Increases, Which of the Following

question 98

Multiple Choice

If the price of peanut butter increases, which of the following will occur?

• A)The demand curve for peanut butter will shift to the left.
• B)Consumers will experience an increase in their purchasing power.
• C)There will be a movement up the demand curve for peanut butter.
• D)The demand curve for peanut butter will shift to the right.

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Definitions:

Exclusive Right to Sell Contract

An agreement between a property owner and a real estate broker giving the broker the sole authority to sell the property on the owner's behalf.

Commission

A fee or percentage of a sale paid to an agent or employee for facilitating or completing a transaction.

Real Estate Broker

A licensed professional who acts as an intermediary between sellers and buyers of real estate, facilitating transactions for a commission.

Listing Contract

A contractual agreement between a property owner and a real estate broker authorizing the broker to find a buyer or tenant.