A Decrease in Price

question 83

Multiple Choice

A decrease in price:

• A)causes a quantity effect,which is an increase in revenue that results from selling fewer units of the good.
• B)causes a price effect,which is a decrease in revenue that results from receiving a lower price for each unit sold.
• C)causes both a price effect and quantity effect.
• D)All of these are true.

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Definitions:

Green Algae

Diverse group of photosynthetic organisms found primarily in aquatic environments, important for oxygen production and as a base in the food web.

Land Plants

Plants that have adapted to live in terrestrial habitats, exhibiting features such as roots, stems, and leaves for survival on land.

Red Tides

A phenomenon caused by algal blooms that turn the sea or other bodies of water a red or reddish color, often resulting in toxic effects on marine life.

Dinoflagellates

A group of single-celled organisms found in marine and freshwater environments known for their role in aquatic food chains and some can cause red tides.