Rising prices for a service
A) create incentives for consumers to buy more, switching from more expensive substitutes.
B) eliminate surpluses.
C) create incentives for businesses to produce less.
D) decrease quantity demanded of the service.
E) do all of the above.

Question

Quizplus · Accepted Answer

Rising prices typically lead to a decrease in the quantity demanded of a service, as consumers may seek alternatives or reduce consumption.

Rising Prices for a Service