Ceteris Paribus, an Increase in the Price of a Good

question 13

Multiple Choice

Ceteris paribus, an increase in the price of a good will cause the

• A) quantity demanded of the good to increase.
• B) quantity supplied of the good to decrease.
• C) consumer surplus derived from the good to decrease.
• D) demand of the good to increase.

---

Definitions:

Relationship Between Variables

The way in which two or more variables are associated or interact with each other.

Strength

In statistics, often refers to the magnitude of a relationship between two variables.

Direction

The course along which someone or something moves, or is aimed or pointed, often described as vectors in mathematical contexts.

Nonlinear

Not linear; indicating a relationship in which the change in outcome does not correspond to a constant change in the independent variable.