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Question

Change in the demand of apples due to increase in its price is _______.

A
increase of demand
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B
decrease of demand
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C
contraction of demand
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D
extension of demand
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Solution

The correct option is A contraction of demand
Change in the demand of apples due to increase in its price is contraction of demand. It happens when other things remaining constant, only the price of the product increases.

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