Asked by Shannon Flynn on May 10, 2024

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The law of demand states that,other things equal,as the price:

A) increases,the quantity demanded will increase.
B) decreases,the demand curve will shift to the right.
C) increases,demand will decrease.
D) increases,the quantity demanded will decrease.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.

Quantity Demanded

The overall quantity of a good or service buyers intend and can afford to acquire at an established price.

  • Familiarize oneself with the law of demand and the repercussions of price fluctuations on the demanded quantity.
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JT
Jessica TaopoMay 15, 2024
Final Answer :
D
Explanation :
The law of demand states that as the price increases, the quantity demanded of a good or service will decrease. As the price of a good or service becomes higher, consumers will generally be less willing or able to buy it. As the price decreases, consumers will be more willing and able to buy more of the good or service.