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Economics
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29 Oct 2020

The Law of _____ states that the quantity demanded of a good or a service is inversely proportional to the price of that good or service, keeping all other variables constant.

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Microeconomics
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Define and Graph Demand, Supply and Equilibrium
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Paramjeet Chawla
Paramjeet ChawlaLv8
29 Oct 2020

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Related questions

According to the law of demand, what will happen as the price of a good or service decreases?

Ā 

a. The demand for that good or service will decrease.

b. The demand for that good or service will increase.

c. The quantity demanded for that good or service will decrease.

d. The quantity demanded for that good or service will increase.

The "law of demand" states that changes in

A) demand is related directly to changes in supply.

B) the quantity demanded of a good is not related to changes in the quantity supplied.

C) the quantity demanded of a good is inversely related to changes in its price.

D) demand is inversely related to changes in supply.Ā 

The "law of demand" states that changes in

A) demand are related directly to changes in supply.

B) the quantity demanded of a good are not related to changes in the quantity supplied.

C) the quantity demanded of a good are inversely related to changes in its price.

D) demand are inversely related to changes in supply.

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