Other Things Being Equal, the Effects of a Decrease in the Price

question 112

Multiple Choice

Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?

• A) A rightward shift in the demand curve for orange juice.
• B) An increase in the quantity demanded for orange juice.
• C) A leftward shift in the demand curve for orange juice.
• D) A decrease in the quantity demanded orange juice.

---

Definitions:

Factor of Production

An input used in the production of goods or services, such as land, labor, capital, and entrepreneurship.

Earnings

Earnings refer to the amount of money that an individual or business makes before any deductions are taken.

Restaurants' Demand

The total desire or willingness to purchase meals and services offered by restaurants at various price points.

Profit-maximizing

The process or strategy of adjusting production and prices to achieve the highest possible profit.