Mark Complains: "I Can't Believe They Raised the Price of Comic

question 137

Essay

Mark complains: "I can't believe they raised the price of comic books, and because of this, I'm going to reduce my demand for comic books." Is Mark stating the concept of demand correctly?

---

Definitions:

Takings Clause

A provision in the Fifth Amendment of the U.S. Constitution that prohibits the government from taking private property for public use without just compensation.

Public Use

The utilization of land or property by the general public or for a public purpose, often justified for projects involving eminent domain.

Just Compensation

The fair market value that must be paid for property taken by the government through eminent domain.

Commercial Speech

Speech that promotes a commercial transaction, or advertisement, which is granted protection under the First Amendment but is subject to regulation.