-Use the Above Figure

question 159

Multiple Choice

-Use the above figure. The consumer's choice changes from YA to YB. Which of the following statements about good Y is TRUE?

• A) price has increased and the quantity demanded has risen.
• B) price has decreased and the quantity demanded has risen.
• C) price has decreased and the quantity demanded has fallen.
• D) price has increased and the quantity demanded has fallen.

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Definitions:

Intrastate Business

Business operations that occur solely within one state’s borders, not involving or affecting trade between states.

U.S. Constitution

The supreme law of the United States, establishing the national framework of government and the fundamental rights of its citizens.

Federal Government

The national government of a country, which holds the highest level of authority over the nation's states or territories.

State Lines

Geographical boundaries that separate individual states within a country, often influencing laws and regulations.