An increase in the price of product x causes a decrease in, Ask an Expert

Economics

An increase in the price of product X causes a decrease in the quantity demanded for product X. One basic explanation for this is:

A. The law of increasing opportunity cost

B. The price-elasticity effect

C. The law of supply

D. The law of diminishing marginal utility

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91523473

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