Other Things Being Equal, an Increase in the Price of a Good

question 6

Multiple Choice

Other things being equal, an increase in the price of a good leads to an increase in the amount produced. This is known as

• A) the law of demand.
• B) the law of supply.
• C) ceteris paribus.
• D) equilibrium.

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Definitions:

Pons

A hindbrain structure above the medulla; it regulates sleep and arousal and coordinates movements of the left and right sides of the body.

Hindbrain

Hindbrain is a part of the brain that includes structures like the cerebellum and the brainstem, which are responsible for basic life functions and coordination.

Medulla

A hindbrain structure at the top of the spinal cord; it controls survival functions such as heart rate and breathing.

Hindbrain

The rear division of the brain, responsible for regulating basic life functions such as heartbeat, breathing, and balance.