An increase in the price of granite would result in a decrease in the DEMAND for granite countertops.

Name: An increase in the price of granite would result in a decrease in the DEMAND for granite countertops.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in the price of granite would result in a decrease in the QUANTITY DEMANDED, not the demand itself, which refers to the entire demand curve. Demand is influenced by factors other than price, such as consumer preferences and income.

An Increase in the Price of Granite Would Result in a Decrease