Assume That Pencils and Pens Are Substitutes

question 121

Multiple Choice

Assume that pencils and pens are substitutes.If the price of pencils rises, then we will see

• A) An increase in the demand for pens.
• B) A decrease in the demand for pens.
• C) An increase in the supply of pens.
• D) A decrease in the supply of pens.

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Definitions:

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Fully concentrating, understanding, responding, and remembering what is being said in a conversation.

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An influential American psychologist who founded the humanistic approach to psychology, emphasizing the importance of self-actualization and client-centered therapy.

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