An increase in product price will cause:

An increase in product price will cause: (a) quantity supplied to decrease. (b) quantity demanded to decrease. (c) the supply curve to shift to the left. (d) quantity demanded to increase.

Answer

Ans:b) quantity demanded to decrease

Asproduct priceis inversly proportional toquantity demanded

(b) quantity demanded to decrease (c) the supply curve to shift to the left.

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