Kristine discovered that when she dropped the price of her paintings, more people were asking her to create paintings for them. Kristine is experiencing

Question

Quizplus · Accepted Answer

Kristine's experience illustrates the law of demand, which states that, all else being equal, as the price of a good decreases, the quantity demanded of that good increases. In this case, lowering the price of her paintings led to an increase in demand for them.

Kristine Discovered That When She Dropped the Price of Her