Suppose We Observe an Increase in the Price of Good

question 29

Multiple Choice

Suppose we observe an increase in the price of good A and an increase in the quantity of good A exchanged.Which of the following is a likely explanation?

• A)The supply of good A has increased.
• B)The "law of supply" is violated.
• C)The "law of demand" is violated.
• D)The demand for good A has increased.
• E)There is an excess supply of good A.

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Definitions:

Geographic

Pertaining to the study or organization of the Earth's surface and its features or relating to the natural land formations of regions.

Demographic

Statistical characteristics of human populations, such as age, gender, and income, used especially to identify markets.

Geographic

Relating to the physical features, climate, or population distribution of a specific area or location.