In Poland's free market, Felix Siemienas is making a fortune in cold cuts.Prices are much higher than formerly.Siemienas says, "Yes, my prices are high.If nobody buys, I bring my prices down.That is the market rule." This "rule" best describes
A) the law of diminishing returns.
B) opportunity cost.
C) the law of increasing costs.
D) the law of demand.
Correct Answer:
Verified
Q141: The Wall Street Journal reports that "hard
Q142: Q143: Figure 5-3 Q144: If a household's income declines, then its Q145: According to the "law" of demand, we Q147: Figure 5-3 Q148: Figure 5-3 Q149: The law of demand states that as Q150: Figure 5-3 Q151: A well-known women's college whose tuition lagged Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
