According to the law of demand, if the price of movie rentals decreases, ceteris paribus,:
a. the demand for movie rentals would increase.
b. the quantity demanded of movie rentals would decrease.
c. the quantity demanded of movie rentals would increase.
d. the demand for movie rentals would decrease.
e. the quantity demanded of movie rentals would not change.
Question 2
The law of increasing opportunity costs implies that a society's production possibilities curve will be a straight line.
a. True
b. False
Indicate whether the statement is true or false
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