An Increase in the Price of a Product

question 298

Multiple Choice

An increase in the price of a product

• A) automatically increases wages.
• B) raises the firm's demand for labor.
• C) would probably decrease total revenues.
• D) increases productivity.

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Definitions:

Horace

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Pertaining to the arrangement or organization of parts within a system, often used to describe the physical or conceptual framework of something.