ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When economists use ceteris paribus, they are looking for what happens to supply and demand when only the ____ changes.
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price
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quantity supplied
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quantity demanded
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quantity
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Explanation:
Detailed explanation-1: -Economists say the law of demand demonstrates that ceteris paribus, more goods tend to be purchased at lower prices. Or that, if demand for any given product exceeds the product’s supply, ceteris paribus, prices will likely rise. In this situation, the price of an item is the only variable that should change.
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