The law of demand states that
A) a decrease in the price of a good shifts the demand curve leftward.
B) an increase in the price of a good shifts the demand curve leftward.
C) other thing remaining the same, the higher the price of a good, the larger is the quantity demanded.
D) other things remaining the same, the higher the price of a good, the smaller is the quantity demanded.
Correct Answer:
Verified
Q16: The relative price of a good is
A)
Q17: The price of a film camera is
Q18: The price of a DVD rental is
Q19: The opportunity cost of a good is
Q20: The opportunity cost of a hot dog
Q22: Demands differ from wants because
A) wants require
Q23: The "law of demand" predicts that, other
Q24: The "law of demand" states that, other
Q25: The "law of demand" refers to the
Q26: When graphing a demand curve for corn,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents