Which statement best explains the law of demand?

A. The quantity demanded by consumers increases as prices rise, then decreases as prices fall

B. The quantity demanded by consumers decreases as prices rise, then increases as prices fall

C. The quantity demanded by producers increases as prices rise, then decreases as prices fall,

D. The quantity demanded by producers decreases as prices rise, then increases as prices fall

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Jay Knox

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2 December, 09:56

Which statement best explains the law of demand?

A. The quantity demanded by consumers increases as prices rise, then decreases as prices fall

B. The quantity demanded by consumers decreases as prices rise, then increases as prices fall

C. The quantity demanded by producers increases as prices rise, then decreases as prices fall,

D. The quantity demanded by producers decreases as prices rise, then increases as prices fall

Ik this and return

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Answers (1)

Know the Answer?

Hudson Burgess · Answer 1

A

Explanation:

When prices are high, Consumers tend to buy less of the commodity while as prices are at a low, consumers would buy the product or commodity more.