If Price Rises from $2 to $3 and the Quantity

question 3

Multiple Choice

If price rises from $2 to $3 and the quantity demanded falls from 100 to 99,demand would be

• A)0.03
• B)0.67
• C)1.23
• D)5.81

---

Definitions:

Paying The Holder

The act of disbursing funds or settling a financial obligation to the lawful possessor of a negotiable instrument.

Indorses

To sign one's name on a document, especially on the back of a check or negotiable instrument, to make it payable to someone other than the stated payee or to accept responsibility.

Discharged From Liability

The release of a debtor from the obligation to repay a debt, usually following a legal process such as bankruptcy proceedings.

Dishonor

Failure to fulfill an obligation, especially the non-payment of a check or negotiable instrument when it is presented for payment.