Which of the following statements is false a) The quantity of a product or service will decease when the price of a good or service falls b) If close substitutes are available, changes in a product 's price could lead to large changes in consumption c) Demand curves can mean that prices will have t...

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Which of the following statements is false? a) The quantity of a product or service will decease

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Which of the following statements is false?

a)	The quantity of a product or service will decease when the price of a good or service falls.

b)	If close substitutes are available, changes in a product's price could lead to large changes in consumption.

c)	Demand curves can mean that prices will have to be cut to increase sales volume.

d)	Substitution explains why demand curves slope down thus consumption of a product usually falls if its price rises.

e)	Shifts in demand can also be due to a drop in income.

Posted Date: Jun 21, 2024 10:08 AM

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Which of the following statements is false? a) The quantity of a product or service will decease

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