If the Quantities in the Demand Schedule in the Table

question 90

Multiple Choice

If the quantities in the demand schedule in the table above were reduced by 2 units at each price,you would conclude that

• A)demand increased.
• B)demand decreased.
• C)the demand curve shifted to the right.
• D)both demand increased and the demand curve shifted to the right.

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Definitions:

Transferable Ownership

The ability to legally transfer the possession or control of something, such as property or shares, from one entity to another.

C Corporation

A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.

Laws of Inheritance

The principles that govern the passing of traits from one generation to the next through the transmission of genetic information.

Limited Partnership

A form of partnership where one or more partners have limited liabilities and limited involvement in the day-to-day management, while at least one partner has unlimited liability.