Suppose We Observe a Rise in the Price of Good

question 178

Multiple Choice

Suppose we observe a rise in the price of good A and an increase in the quantity of good A bought and sold.Which one of the following is a likely explanation?

• A)The law of demand is violated.
• B)The demand for A decreased.
• C)The demand for A increased.
• D)The supply of A increased.
• E)The supply of A decreased.

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Definitions:

Esteem

A psychological term describing a positive or negative attitude toward oneself; an aspect of self-respect or self-worth.

Persistence of Effort

The continual exertion of effort towards achieving a goal, despite obstacles or difficulties.

Motivation

The driving force behind individuals' actions, desires, and needs, influencing their behavior and goal achievement.

Contingency Workers

are individuals employed on a temporary basis to meet the flexible staffing needs of companies.