If the price is $5 and the quantity demanded is 100 units, then at a price of $10, the quantity demanded will be
A)less than or equal to 100 units.
B)greater than or equal to 100 units.
C)greater than quantity supplied.
D)equal to 100 units.

Question

Quizplus · Accepted Answer

According to the law of demand, as the price increases, the quantity demanded decreases. Therefore, if the price increases from $5 to $10, the quantity demanded will decrease. As we know that the quantity demanded at a price of $5 is 100 units, we can infer that the quantity demanded at a price of $10 will be less than or equal to 100 units.

If the Price Is $5 and the Quantity Demanded Is