An Increase in the Price of a Good Causes

question 114

Multiple Choice

An increase in the price of a good causes

• A) a change in the slope of the budget line.
• B) an increase in the consumption of that good.
• C) a rightward shift of the demand curve for that good.
• D) a parallel rightward shift of the budget line.

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Definitions:

Druze

A monotheistic religious and social community, originating in the Middle East, known for its unique blend of Islamic, Gnostic, and philosophical traditions.

Economic Loss

The financial diminution experienced by an individual or organization, typically due to business operations or economic conditions.

Initial Stage

The very beginning phase of a process, project, or development, where foundational steps are taken.

Emotional Pain

A deeply distressing or unpleasant emotional response to a significant loss, betrayal, or failure, often leading to feelings of sadness, grief, or despair.