If price of a good rises, what happens to the demand for that good, all other things held constant?
A)The demand increases.
B)The demand decreases.
C)The demand does not change.
D)The outcome depends upon the supply of the good.

Question

Quizplus · Accepted Answer

According to the law of demand, a change in price affects the quantity demanded, not the demand itself. Demand remains unchanged unless other factors like consumer preferences or income change.

If Price of a Good Rises, What Happens to the Demand