Which of the following illustrates the law of demand?
A) Jorge buys fewer pencils at $2 per pencil than at $1 per pencil,ceteris paribus.
B) Chen buys more ice cream at $4 per half-gallon than at $3 per half gallon,ceteris paribus.
C) Karissa buys fewer sweaters at $50 each than at $35 each,ceteris paribus.
D) a,b,and c
E) a and c

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good increases, the quantity demanded of that good decreases, ceteris paribus. Both option A and C demonstrate this inverse relationship between price and quantity demanded. Option B goes against the law of demand and therefore is not a correct choice. So, option E which includes A and C is the correct answer.

Which of the Following Illustrates the Law of Demand