Suppose We Observe a Fall in the Price of Good

question 139

Multiple Choice

Suppose we observe a fall 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 supply 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:

Epidermis

The outermost layer of skin that acts as a protective barrier against environmental elements, pathogens, and water loss.

First-degree Burn

A superficial burn injury affecting only the outer layer of the skin, characterized by redness and pain without blistering.

Hair Follicle

A tiny, tubular cavity in the skin containing the root of a hair from which hair growth occurs.

Dermis

The layer of skin beneath the epidermis that contains sweat glands, hair follicles, and connective tissue.