When the price of apples goes up

Name: When the price of apples goes up
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good increases, the quantity of that good demanded by consumers will decrease, ceteris paribus (all other factors held constant). Therefore, when the price of apples goes up, consumers will be less willing and able to buy the same quantity of apples they were buying before, leading to a decrease in the quantity of apples demanded.

When the Price of Apples Goes Up