What Does the Expression "↓P Results in ↑Q_d" Imply

question 72

Multiple Choice

What does the expression "↓P results in ↑Q_d" imply?

• A) As price goes up, quantity demanded falls.
• B) As price goes up, quantity demanded rises.
• C) As price falls, quantity demanded falls.
• D) As price falls, quantity demanded increases.

---

Definitions:

Manufacturing Process

The series of operations or stages involved in the production of goods, often involving the assembly or transformation of raw materials.

Probability

Probability is the measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Canada Revenue

Denotes the federal agency responsible for the collection of taxes and the administration of tax laws and policies in Canada.

Probability

Evaluating the likelihood of an event's occurrence.