Albert Jones went to his local department store to purchase a pair of Levi's.He thought that the style of Levi that he wanted would sell for about $30 a pair.When he got to the store,he saw a sign which said,Levi's,all styles,$18 a pair.Albert bought three pairs of Levi's.The behavior of Albert is consistent with

Question

Quizplus · Accepted Answer

Albert's behavior is consistent with the law of demand because he purchased more of the product (Levi's) when the price decreased (from his expected price of $30 to the sale price of $18). This is in line with the inverse relationship between price and quantity demanded that is described by the law of demand.

Albert Jones Went to His Local Department Store to Purchase