Which of the Following Best Reflects an Increase in Quantity

question 472

Multiple Choice

Which of the following best reflects an increase in quantity demanded and NOT an increase in demand?

• A) A college expects enrollment to increase, despite no change in the tuition.
• B) Skiing becomes a fashionable winter sports activity.
• C) The price of hair stylings falls.
• D) Consumers expect lower prices next month for computers.

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Definitions:

Higher Prices

An increase in the cost that consumers must pay to purchase goods or services.

Income Redistribution

The transfer of income from certain individuals or groups to others through mechanisms like taxes, welfare programs, and subsidies, aimed at reducing economic inequality.

Economic Profit

The gap between a company's overall earnings and all its expenses, comprising both direct and indirect costs.

Pure Monopoly

A market structure where a single firm controls the entire supply of a product or service, with no close substitutes.