According to the Principle of Supply and Demand,reducing the Availability

question 75

Multiple Choice

According to the principle of supply and demand,reducing the availability of drugs on the street makes them __________.

• A)more socially unacceptable
• B)less costly
• C)more costly
• D)more accessible to young children

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Definitions:

Marginal Revenue

The additional income earned from selling one more unit of a good or service.

Output

The volume of output in terms of products or services from a business, sector, or country within a designated timeframe.

Units

Units are standard measures or quantities used to specify or quantify the dimensions, amount, or capacity of something.

Price-Output Combination

The specific level of output and the price at which that output is sold in the market, relevant in contexts of market equilibrium and firm strategies.