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According to the Law of Demand, What Will Occur as the Price

Question 8

Multiple Choice

According to the law of demand, what will occur as the price of a good rises?  


A)  Buyers will purchase less, hoping that the price of the good will fall in the future. 
B)  Buyers will purchase less, in part because their real income has fallen. 
C)  Buyers will purchase more, in part because the price of a substitute good has risen. 
D)  Buyers will purchase more, in part because the good has higher status when the price is high.

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