An Increase in the Price of a Good Will Cause

question 112

Multiple Choice

An increase in the price of a good will cause which of the following?

• A)Quantity demanded to demand to rise
• B)Demand to fall
• C)Quantity supplied to fall
• D)Supply to rise
• E)None of the above

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Definitions:

Engine

A machine designed to convert energy into useful mechanical motion.

Factory

A building or complex where goods are manufactured or assembled primarily by machines and workers.

Land

An asset representing real estate property, excluding buildings or structures, used in accounting as a long-term asset.

Brokerage Commission

The fee charged by a broker for executing transactions or providing specialized services.