Suppose We Observe a Fall in the Price of Good

question 160

Multiple Choice

Suppose we observe a fall in the price of good A and a decrease 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:

Digital Signal

A signal using 1s and 0s to represent data.

Port Adapter

A device used to connect different types of ports or interfaces on computers and network equipment, enabling compatibility and connectivity between devices.

Graphic

Pertaining to visual art or visual representation of information, data, or concepts using various means like drawings, diagrams, animations, or photographs.

FireWire

A high-speed serial bus interface standard for connecting digital devices, especially audio and video equipment, to a computer, allowing for rapid data transfer.