According to the law of demand, an increase in the price of baseball trading cards causes:
A) people to buy fewer trading cards.
B) people to buy more trading cards.
C) the scarcity of baseball trading cards to increase.
D) baseball trading cards to grow in abundance.

Question

Quizplus · Accepted Answer

According to the law of demand, as the price of a good increases, the quantity demanded decreases, leading people to buy fewer trading cards.

According to the Law of Demand, an Increase in the Price