The quantity demanded (Qd) of a soft drink brand \(X\) has decreased. This could be because ____________
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Correct Answer: Option B
Explanation:
the first law of demand states that the higher the price the lower the quantity demanded and vice versa. Thus, the major factor that can cause a decrease in the quantity demand of \(X\) is the increase in the price of \(X\)
the first law of demand states that the higher the price the lower the quantity demanded and vice versa. Thus, the major factor that can cause a decrease in the quantity demand of \(X\) is the increase in the price of \(X\)