A Decrease in the Price of a Good Would

question 89

Multiple Choice

A decrease in the price of a good would

• A)increase the supply of the good.
• B)increase the quantity demanded of the good.
• C)give producers an incentive to produce more to keep profits from falling.
• D)shift the supply curve for the good to the left.

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Definitions:

Data Mining Software

Computer programs designed to process large datasets to identify patterns, trends, and relationships.

Customer Retention

The activities and actions companies take to reduce the number of customer defections and to keep customers loyal to the brand or company.

Churn

The number of consumers who stop using a product or service, divided by the average number of consumers of that product or service.

Service Discontinue

The process of ending a service or product being offered to customers.