John Believes That When the Price of a Good Increases

question 432

Multiple Choice

John believes that when the price of a good increases people will purchase more of the good. This statement is

• A)consistent with the law of demand.
• B)inconsistent with the law of demand.
• C)referring to money prices.
• D)consistent with the law of supply.

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Definitions:

Equity

The amount of ownership interest in an asset or business, after deducting all debts associated with that asset.