What Is the Effect of an Increase in the Price

question 132

Multiple Choice

What is the effect of an increase in the price of a resource?

• A)It will cause a decrease in the supply of the product.
• B)It will cause an increase in the supply of the product.
• C)It will cause a decrease in the demand for the product.
• D)It will cause an increase in the demand for the product.

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Definitions:

Newsbot

An automated software that collects and distributes news articles from various sources online.

Newsgroups

Online discussion forums where users can post and read messages on specific topics, resembling bulletin board systems of the early internet.

Consultative Function

A role or service that provides expert advice and guidance in a particular field or area, typically to help organizations make informed decisions.

MIS Department

Stands for Management Information Systems Department, a division in an organization that focuses on computing technology and systems to manage company information and assist in strategic decision-making.