Which of the Following Brings Only an Increase in the Quantity

question 217

Multiple Choice

Which of the following brings only an increase in the quantity demanded of a good?

• A) a decrease in income, assuming the good is an inferior good
• B) a rise in the price of a substitute good
• C) a fall in the price of the good itself
• D) an expectation that the good's price will rise in the future
• E) a decrease in income, assuming the good is a normal good

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Definitions:

Marginal Revenue

The supplementary earnings obtained from the sale of one more unit of a product or service.

Revenue Curves

Graphs showing the relationship between the sales volume and the revenue generated from those sales.

Elastic Portion

The segment of a demand curve where the quantity demanded changes significantly as a result of price changes, indicating high price elasticity of demand.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at those prices.