If the Price of a Resource Falls, Other Things Constant

question 69

Multiple Choice

If the price of a resource falls, other things constant,

• A)demand for the product it produces will increase
• B)demand for a substitute product will increase
• C)demand for a substitute resource will fall
• D)supply of that resource will rise
• E)supply of a substitute resource will also rise

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Definitions:

Atomic Statements

The simplest form of a statement in logic, expressing a single proposition that cannot be broken down further.

Main Components

The essential or core parts that make up a whole, system, or mechanism.

Connectives

Logical operators that connect propositions in logic, such as "and," "or," "if...then," and "not," used to form compound sentences.

Main Connective

The main connective in a logical expression is the connective that determines the truth value of the entire expression, essentially holding the highest priority in its structure.