The above figure shows a graph of the market for pizzas in a large town. If the price falls from $10 to $7 per pizza, the quantity of pizzas demanded will
A) increase by 20.
B) decrease by 30.
C) increase by 30.
D) decrease by 10.
C
You might also like to view...
Which of the following is accounted for when we measure economic growth in terms of per capita real GDP?
a. Changes in the quality of life b. Changes in income distribution c. Changes in standards of living d. Changes in price level e. People's nonmonetary needs
If real GDP was 100 in 2015 and 104.4 in 2016, the growth rate of real GDP between 2015 and 2016 was:
A. 2.2 percent. B. 4.4 percent. C. 100 percent. D. 102.2 percent.
The real-income effect of a price change is most significant when
A) the substitution effect is insignificant. B) the substitution effect is significant too. C) the good under consideration constitutes a major portion of the consumer's budget. D) the marginal utility per dollar spent on the last unit is high.
Why does the money supply increase when the Fed buys a bond but does not change when a business buys a bond?
What will be an ideal response?