An Increase in Price

question 53

Multiple Choice

An increase in price:

• A) cannot cause a quantity effect.
• B) cannot cause a price effect.
• C) causes a decrease in revenue resulting from selling fewer units and a simultaneous increase in revenue resulting from receiving a higher price.
• D) causes an increase in quantity demanded.

---

Definitions:

Retroactive Interference

The phenomenon where newly learned information interferes with and impairs the recall of previously learned information.

Serial List

A serial list is a sequence of items organized in a specific order, often used for memorization or organizational purposes.

Proactive Interference

The phenomenon where older memories interfere with the recall of newer memories, often impacting the learning process.

Long-Term Memory

A type of memory capable of storing large amounts of information for potentially unlimited durations, ranging from minutes to a lifetime.