Suppose That the Demand Curve for Apples Is Downward Sloping

question 219

Multiple Choice

Suppose that the demand curve for apples is downward sloping and the price per pound decreases from $1.25 to $1.00. We would then expect

• A) the demand for apples to decrease.
• B) the quantity of apples demanded to fall.
• C) the demand curve to shift toward the origin.
• D) the quantity of apples demanded to increase.

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Definitions:

Economic Well-being

A broad measure of the prosperity and quality of life of individuals or societies, encompassing material, social, and environmental dimensions.

Output Decreased

A reduction in the quantity of goods or services produced by a company, industry, or economy.

Tobacco Industry

A sector of the economy encompassing the farming, manufacture, and sale of tobacco and tobacco-related products.

Government Intervention

Regulatory actions taken by a government in order to affect or interfere with decisions made by individuals, groups, or organizations regarding economic and social matters.