The law of demand is illustrated when Select one: a. higher costs of leather cause an increase in the price of leather shoes. b. an increase in the price of taxi rides causes people to use the public buses more. c. an increase in college tuition costs results in more students applying for college. d. higher oil prices cause oil companies to drill for new sources of oil.
The law of demand is illustrated when Select one: a. higher costs of leather cause an increase in the price of leather shoes. b. an increase in the price of taxi rides causes people to use the public buses more. c. an increase in college tuition costs results in more students applying for college. d. higher oil prices cause oil companies to drill for new sources of oil.
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 3P
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The law of demand is illustrated when
Select one:
a. higher costs of leather cause an increase in the price of leather shoes.
b. an increase in the price of taxi rides causes people to use the public buses more.
c. an increase in college tuition costs results in more students applying for college.
d. higher oil prices cause oil companies to drill for new sources of oil.
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