If the Demand for a Product Declines, What Happens to the Price

question 165

Multiple Choice

If the demand for a product declines, what happens to the price of the product?

• A) The price stays the same.
• B) The price decreases.
• C) The price increases.
• D) The equilibrium price will be maintained.
• E) The market price will be maintained.

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Definitions:

Open Circuit

An electrical circuit in which the path for current flow is broken, causing the circuit not to function.

DMM

Stands for Digital Multimeter, an electronic instrument that measures electrical values such as voltage, current, and resistance.

Low-Amperage Circuits

Electrical circuits designed to carry a small amount of electrical current, often for delicate electronic devices or low power applications.

Resistance

The opposition offered by a material or device to the flow of electrical current, measured in ohms.