Question

As the price of a slice of pizza increases, what most likely happens to the quantity demanded?

Answer 1

The Quantity demanded decreases

Answer 2

Answer:

If the latin maxim in economics holds true, then the correct answer is C)

As the price of a slice of pizza increases, MOST LIKELY, the quantity demanded will decrease.

Explanation:

According to the principles of micro economics, quantity demand must go in the opposite direction of price on the condition of ceteris paribus.

Ceteris Paribus is a latin maxim often used in economics which means "All things being equal" or "all other factors held constant"

That is, if all other factors which can modify this relationship are held constant,  then quantity demanded will go in the opposite direction of price.

Some factors which may modify this relationship are: Elasticity of demand and the Nature of the Market.

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