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happypuppy
GMAT 1: 720 Q50 V38 (Online)
Posts: 203
23 Nov 2021, 07:21
Kudos
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
(N/A)
Question Stats:
67% (01:48) correct
33%
(03:58)
wrong
based on 3
sessions
History
Date
Time
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Not Attempted Yet
When the price of a certain product increases, its demand decreases. The decrease in demand leads to a corresponding decrease in consumer confidence in that product as well. However, when the income of consumers is on the rise, it opposes the reduction in demand.
If the statements above are true, which of the following is also true regarding this product?
(A) When the income of consumers and the price of the product both increase, customer confidence will not go down.
(B) The rise in consumer income causes a rise in consumer confidence.
(C) By controlling the price of the product, consumer confidence in it can be maintained.
(D) During a recession, when the demand is very low, consumer confidence is not linked to the price anymore.
(E) Consumer confidence in the product likely decreases more without an increase in consumers' income than with it
If the statements above are true, which of the following is also true regarding this product?
(A) When the income of consumers and the price of the product both increase, customer confidence will not go down.
(B) The rise in consumer income causes a rise in consumer confidence.
(C) By controlling the price of the product, consumer confidence in it can be maintained.
(D) During a recession, when the demand is very low, consumer confidence is not linked to the price anymore.
(E) Consumer confidence in the product likely decreases more without an increase in consumers' income than with it
Archived Topic
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23 Nov 2021, 07:24
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Roy867
You've already posted this one before: when-the-price-of-a-certain-product-increases-its-demand-decreases-375380.html?fl=similar
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Critical Reasoning (CR) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
29 Mar 2025, 23:50
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