The demand function for Pandora bracelets is Q = 850-4P. Where P is the price of the good and Q is the quantity demanded. If the price of the bracelet increases from €100 to €150, which of the following statements is true:
(a) Quantity demanded decreases by 50 units.
(b) Quantity demanded decreases by 300 units.
(c) Quantity demanded decreases by 200 units.
(d) Quantity demanded decreases by 100 units.
Answer: (c) Quantity demanded decreases by 200 units.
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