If the Price of Refillable Butane Lighters Was to Decrease

question 90

Multiple Choice

If the price of refillable butane lighters was to decrease, then

• A)the demand for butane would decrease.
• B)the demand for butane would increase.
• C)the quantity of butane demanded would increase.
• D)the quantity of butane demanded would decrease.

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Definitions:

Market Price

The price of a commodity when sold in a given market, determined by supply and demand dynamics.

Market

A venue where buyers and sellers interact to trade goods, services, or financial instruments.

Supply Product

The total amount of goods or services available for purchase at any given price point.

Market Price

The current value at which a good or service can be bought or sold in a particular market.