When the price of a good increases and the quantity demanded decreases, this is often referred to as:
A.efficiency.
B.the law of demand.
C.the supply schedule.
D.the production possibilities frontier.

Question

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The Answer of When the price of a good increases and the quantity demanded decreases, this is often referred to as:
A.efficiency.
B.the law of demand.
C.the supply schedule.
D.the production possibilities frontier.

When the Price of a Good Increases and the Quantity