The price of a popular breakfast cereal increases, ceteris paribus. As a result, demand will _______ and quantity demanded will

Question

2 years ago

12

The price of a popular breakfast cereal increases, ceteris paribus. As a result, demand will _______ and quantity demanded will

_______.
be constant; increase
be constant; decrease
increase; be constant
decrease; be constant
depend on its determinants; increase

Advanced Placement (AP)

2 answers:

Mars2501 [29] · Answer 1 · 2022-05-28T00:58:13+03:00

Mars2501 [29]2 years ago

8 0

Answer:

I believe it is increase; be constant

stiv31 [10] · Answer 2 · 2022-05-28T02:56:26+03:00

The answer is the last choice: depend on its determinants, increase.
If a product is popular, and the price increases, some customers may still buy the product, others may look for different cheaper products. The quantity demand will increase because its popular, many people will buy it, so they need more production.