Which of the Following Explains Why the Quantity of a Good

question 150

Multiple Choice

Which of the following explains why the quantity of a good demanded decreases when its price increases?

• A)​Consumer preferences change when the price of a good changes.
• B)​The nominal income of consumers falls when the price of a good increases.
• C)​Substitutes become relatively cheaper when the price of a good increases.
• D)​Complements become relatively cheaper when the price of a good increases.

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Definitions:

Water Conservation

The practice of using water efficiently to reduce unnecessary water usage and protect water resources for future generations.

Public Service Ad

An advertisement intended to promote public welfare by raising awareness of an issue, encouraging a change in behavior, or advocating for a cause.

Environmental Consciousness

Awareness and concern about the environment and the impact of one's actions on it.

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Files and content stored in a digital format that can be created, transmitted, and stored electronically.