Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

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

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.