If a seller notices he or she is not selling much of a particular product, he or she is most likely going to
A. pull the item off of the shelf.
B. reduce the price of the item.
C. increase the price of the item.
D. place more of the item on the shelf.
If a seller notices he or she is not selling much of a particular product, he or she is most likely going to
A. pull the item off of the shelf.
B. reduce the price of the item.
C. increase the price of the item.
D. place more of the item on the shelf.
The Income Effect causes consumers to
A. demand a greater quantity of goods than normal.
B. demand a lesser quantity of goods than normal.
C. demand the same quantity of goods as normal.
D. stop demanding a good.
In terms of the law of demand, which of the following is said to occur when the price of a good increases?
A. The quantity demanded remains the same.
B. The quantity demanded increases.
C. The quantity demanded decreases.
D. There is no affect on the quantity demanded.
As prices rise, producers will increase production of a product because
A. they are required to by law.
B. they want to decrease the volume of sales.
C. they want to obtain higher profits.
D. they are spending less money on resources.

