Sometimes, We Observe Cases Where the Price of a Product

question 47

Multiple Choice

Sometimes, we observe cases where the price of a product rose and the quantity bought by buyers also increased. Such cases occur due to a violation of the:

• A) Law of Demand
• B) Law of Supply
• C) Allocative efficiency rule
• D) Ceteris paribus assumption

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Definitions:

Insomnia

A sleep disorder characterized by difficulty falling and/or staying asleep, affecting a person's ability to get sufficient rest.

Sleep Disorder

A medical condition that disrupts the normal sleep patterns, leading to excessive sleepiness or difficulty sleeping.

Narcolepsy

A continuous sleep problem distinguished by overpowering sleepiness in daytime and sudden sleep incidents.

Fighter Pilot

A military aviator trained to engage in air-to-air combat while in the cockpit of a fighter aircraft.