Pop quiz, econ hot shot:
If you want to reduce the quantity demanded for a good, what do you do?
A. Raise the price of the good
B. Lower the price of the good
C. Get a skunk to spray the good
D. Answer not given
[Maybe A, Probably D. By this point, most economics students should be scratching their heads. The law of demand tells us that if the price of a good rises, the quantity demanded decreases. So, why is the better answer D?]