An increase in price will decrease demand.

Name: An increase in price will decrease demand.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the law of demand, an increase in price will decrease the quantity demanded, not demand itself. Demand refers to the entire relationship between price and the quantity demanded, while a movement along the demand curve due to a price change is a change in the quantity demanded.

An Increase in Price Will Decrease Demand