Holding everything else constant,an increase in the price of raisins will result in
A)a decrease in the quantity of raisins demanded.
B)an increase in the demand for raisins.
C)a decrease in the supply of raisins.
D)an increase in the quantity of raisins demanded.

Question

Quizplus · Accepted Answer

According to the law of demand, as the price of a good increases, the quantity demanded decreases, assuming all other factors remain constant. Therefore, an increase in the price of raisins will lead to a decrease in the quantity of raisins demanded.

Holding Everything Else Constant,an Increase in the Price of Raisins