An increase in the price of a product will reduce the amount of it purchased because:

A) supply curves are upsloping.
B) the higher price means that real incomes have risen.
C) consumers will substitute other products for the one whose price has risen.
D) consumers substitute relatively high-priced for relatively low-priced products.

Supply Curves

Graphical representations that show the relationship between the price of a good and the quantity of that good that a supplier is willing to supply.

Quantity Purchased

The total number of units of a product bought by consumers at a given price level.

Product Price

The amount of money required to purchase a specific product, determined by various factors including cost of production, demand, and competition.