If the Price of Ice Cream Increases and the Quantity

question 15

Multiple Choice

If the price of ice cream increases and the quantity demanded decreases, economists would describe this as:

• A)a change in demand.
• B)a change in quantity demanded.
• C)a change in consumer income.
• D)a change in one of the variables that shift demand.
• E)an inferior good.

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Definitions:

Simplify

The process of altering an expression or equation to make it easier to work with, often by combining like terms or using mathematical properties.

Synthetic Division

A streamlined method for dividing polynomials, focusing on the coefficients and omits variables and exponents for efficiency.

Polynomial

An algebraic expression consisting of variables and coefficients, combined using only addition, subtraction, multiplication, and non-negative integer exponents.

Numerator

The top part of a fraction that represents how many parts of the whole or group are being considered.