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18 February, 20:02

According to the law of demand,

a. a decrease in price increases demand.

b. an increase in price decreases demand.

c. an increase in income increases demand.

d. a decrease in price increases quantity demanded.

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  1. 18 February, 20:21
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    d. a decrease in price increases quantity demanded.

    Explanation:

    Law of demand: According to the law of demand, if the price of the good decreases, the quantity demanded would increase and vice versa. It shows an inverse relationship between price and quantity demanded. That's why its curve is always downward sloping

    It effects the price and quantity demanded only and other things remain constant.
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Home » Business » According to the law of demand, a. a decrease in price increases demand. b. an increase in price decreases demand. c. an increase in income increases demand. d. a decrease in price increases quantity demanded.
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