When Consumers' Tastes and Preferences for a Product Improve and the Supply

question 32

Multiple Choice

When consumers' tastes and preferences for a product improve and the supply remains unchanged:

• A) the quantity demanded of the product falls.
• B) the supply curve becomes steeper.
• C) the price of the product reduces.
• D) the equilibrium quantity increases.

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The process of briefly stating the main points of a larger piece of text or conversation.

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The act of repeating or copying out words from a text or speech written or spoken by another person, often indicated by quotation marks.

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