Jill owns a bakery that specializes in cheesecakes.Until recently,Jill charged a price of $12 for each cheesecake.At this price Jill's customers bought an average of 84 cheesecakes each week.For the last few weeks,she has reduced her price to $10.50 per cheesecake,and her customers have purchased an average of 96 cheesecakes each week.These results are consistent with the economic concept of demand.

Question

Quizplus · Accepted Answer

The decrease in price has led to an increase in the quantity demanded, which is consistent with the law of demand in economics.

Jill Owns a Bakery That Specializes in Cheesecakes