Which of the following describes the law of demand? When other things remain the same,as
A) the price of gas falls, the quantity demanded of gas increases.
B) the quantity demanded of bread increases, the price of bread falls.
C) the price of peanut butter increases, the quantity demanded of jelly decreases.
D) your income increases, you'll buy more hamburgers.
E) more people decide to eat pizza, the demand for pizza increases.

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good or service decreases, the quantity demanded of that good or service will increase, assuming all else remains constant. Choice A correctly identifies this relationship.

Which of the Following Describes the Law of Demand? When