Microeconomic MCQ 1: 16. As the price of gasoline increases, the quantity demanded of gasoline decreases. This is an
application of
A) the law of supply
B) environmental economics
C) the law of demand
D) how government organizations deal with pollution
E) needs versus wants

Question

16. As the price of gasoline increases, the quantity demanded of gasoline decreases. This is an
application of
A) the law of supply
B) environmental economics
C) the law of demand
D) how government organizations deal with pollution
E) needs versus wants

Gonza R · Accepted Answer

C) the law of demand

Microeconomic MCQ 1

16. As the price of gasoline increases, the quantity demanded of gasoline decreases. This is an application of A) the law of supply B) environmental economics C) the law of demand D) how government organizations deal with pollution E) needs versus wants

C) the law of demand

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