The law of demand states that other things remaining the same, the _______ the price of a good, the _______. A. lower; smaller is the quantity demanded B. higher; greater is the quantity demanded C. lower; greater is demand D. higher; smaller is the quantity demanded
Added by Carmen S.
Step 1
** Show more…
Show all steps
Your feedback will help us improve your experience
Ronald Prasad and 77 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Ronald P.
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.
Rashmi S.
Rachel G.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD