Ceteris Paribus, a Change in the Price of a Good

question 389

Multiple Choice

Ceteris paribus, a change in the price of a good always results in a change in:

• A) income.
• B) tastes.
• C) quantity demanded.
• D) both income and tastes.
• E) the price of other goods.

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Definitions:

Teacher

A person who helps students to acquire knowledge, competence, or virtue, formally in a school or educational setting.

Experience

The knowledge or skill acquired through involvement in or exposure to events, situations, or activities over time.

Extract and Focus

The process of identifying and concentrating on specific elements or aspects.

Numerous Unrelated Elements

Refers to a collection of distinct items or aspects that do not have a direct relationship with each other within a particular context.