Question

A decrease in the price of a particular product will result in A) a decrease in the demand for that product. B) a shift in the production possibilities frontier. C) an increase in the quantity demanded of that product. D) an increase in the quantity supplied of that product.

Answer 1

C) an increase in the quantity demanded of that product.

Step-by-step explanation:

There is an inverse relationship between the price and the quantity demanded, which means that a decrease in the price of a particular product will generate an increase in the quantity demanded of that product as consumers will be more willing to buy the good.