Asked by Laura Arrunada on May 02, 2024
Verified
A decrease in the price of eggs will result in an increase in the:
A) demand for eggs.
B) supply of eggs.
C) quantity of eggs supplied.
D) quantity of eggs demanded.
Quantity Demanded
The complete sum of a certain good or service that consumers are ready and capable of buying at a determined price level.
- Grasp the relationship between price changes and its influence on the amount of goods demanded, following the principle of demand.
Verified Answer
KF
Khadra FarahMay 09, 2024
Final Answer :
D
Explanation :
A decrease in the price of eggs will lead to an increase in the quantity of eggs demanded, as consumers are more likely to buy more eggs at a lower price. It will not directly affect the demand for eggs or the supply of eggs, as those factors are influenced by various other factors such as consumer preferences and production costs.
Learning Objectives
- Grasp the relationship between price changes and its influence on the amount of goods demanded, following the principle of demand.
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