The law of demand states that other things equal:

a) as the price increases, the demand will decrease.

b) as the price increases, the quantity demanded will decrease.

c) as the price decreases, the demand curve will shift to the right.

d) as the price increases, the quantity demanded will increase.

Question

Roy Stanton

Business

17 November, 23:38

The law of demand states that other things equal:

a) as the price increases, the demand will decrease.

b) as the price increases, the quantity demanded will decrease.

c) as the price decreases, the demand curve will shift to the right.

d) as the price increases, the quantity demanded will increase.

+3

Answers (1)

Know the Answer?

Zander · Answer 1

Option (B) is correct.

Explanation:

The law of demand states that there is a inverse relationship between the price of the products and the quantity demanded for the products which means that if there is an increase in the price of the product then as a result the quantity demanded for that product decreases and on the other hand if there is a fall in the price of the commodities then as a result the quantity demanded for the product increases.

The law of demand states that other things equal:a) as the price increases, the demand will decrease.b) as the price increases, the quantity demanded will decrease.c) as the price decreases, the demand curve will shift to the right.d) as the price increases, the quantity demanded will increase.