The lower the price of a commodity, the greater the quantity demanded. This is based...

WAEC 2007

The lower the price of a commodity, the greater the quantity demanded. This is based on the assumption that the consumers’

A. income is diminished
B. income remains the same
C. utility is diminished
D. population is high

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Correct Answer: Option B

Explanation

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The lower the price of a commodity, the greater the quantity demanded. This is based...

Correct Answer: Option B

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