According to the law of demand,the higher the price of an assigned textbook,the _______________ the quantity demanded of assigned textbooks will be,ceteris paribus,and the ______________ likely students will seek out an alternative to the assigned textbook.
A) lower; less
B) lower; more
C) higher; less
D) higher; more

Question

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a good increases, the quantity demanded of that good decreases. Therefore, if the price of an assigned textbook is higher, the quantity demanded will be lower, and students will be more likely to seek alternatives.

According to the Law of Demand,the Higher the Price of an Assigned