Which statement BEST exemplifies the law of demand?

A) As income taxes rise,fewer new cars are purchased.
B) As the price of corn rises,more acres of corn are planted.
C) As the price of a car rental rises,fewer cars are rented.
D) As the population rises,more electricity is consumed.

Law of Demand

The principle that, all else being equal, an increase in the price of a good will decrease the quantity demanded, and a decrease in price will increase the quantity demanded.

Income Taxes

Taxes levied by governments on individual or corporate income.

Car Rental

A service that allows customers to borrow a vehicle for a certain period of time in exchange for a fee.