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26 June, 11:28

15

Select all the correct answers.

Which statements are true according to the law of demand?

An increase in supply leads to an increase in demand.

A decrease in supply leads to a decrease in demand.

An increase in price leads to a decrease in quantity demanded.

A decrease in price leads to an increase in quantity demanded.

An increase in price leads to an increase in demand.

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  1. 26 June, 11:57
    0
    An increase in price leads to a decrease in quantity demanded.

    A decrease in price leads to an increase in quantity demanded.

    Explanation:

    The law of demand says that an increase in the price will reduce the quantity demanded of any given product.
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