Answered

Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

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

Sagot :

MisterZeng
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.
gauravsingh23VT

The price of a popular breakfast cereal increases, ceteris paribus. As a result, demand will depend on its determinants and quantity demanded will increase.

What are the determinants of quantity demanded?

The quantity demanded is consist of five factors that are pricing, buyer income, the cost of comparable commodities, consumer preferences, and any future supply and price expectations held by the public.

Thus, option D is correct.

For more details about quantity demanded, click here:

https://brainly.com/question/14891744

#SPJ2

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.