A rise in the price of a good is accompanied by an increase in the quantity demanded. What could explain this?
✓ Correct answer
C: The price of the good is taken to be an indication of the level of quality.
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill The price system and the microeconomy and see which topics are most likely to come up next.
Sign up free →