Question: When the price of an item goes down, people buy more of it because at a lower price Options: -some new people may be willing

When the price of an item goes down, people buy more of it because at a lower price

Options:

-some new people may be willing to enter the market.

-the item is more valuable.

-the marginal cost is more likely to exceed the marginal benefit.

-there is no opportunity cost.

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