A Decrease in the Price of a Good Would

question 89

Multiple Choice

A decrease in the price of a good would

• A)increase the supply of the good.
• B)increase the quantity demanded of the good.
• C)give producers an incentive to produce more to keep profits from falling.
• D)shift the supply curve for the good to the left.

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Definitions:

Functional Benefits

The practical or utilitarian advantages that a product or service offers to customers.

Perceptual Benefits

Perceptual Benefits refer to the subjective advantages a consumer perceives in a product or service, often based on brand image, aesthetics, or status.

Sustainability Benefits

Advantages related to environmental, economic, and social sustainability that contribute to long-term ecological balance, resource conservation, and equitable societies.

Brand Extension

The practice of using an existing brand name to launch a product in a different category, leveraging the brand's established recognition and image.