32. The law of demand can be explained as: A. a lot of people wanting the same thing. B. the higher the price, the smaller the quantity demanded, holding other things constant. C. people are willing to make limited sacrifices to acquire products. D. legal reasons people make purchases in the marketplace.
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The law of demand is a fundamental principle in economics that describes how the quantity of a good or service demanded by consumers changes in response to a change in its price, assuming all other factors remain constant (ceteris paribus). Show more…
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