Table 4-7
The demand schedule below pertains to sandwiches demanded per week.

-Refer to Table 4-7.Regarding Charlie and Maxine,whose demand for sandwiches conforms to the law of demand?

Question

Table 4-7
The demand schedule below pertains to sandwiches demanded per week.
 
-Refer to Table 4-7.Regarding Charlie and Maxine,whose demand for sandwiches conforms to the law of demand?

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a good decreases, the quantity demanded increases, and vice versa. If both Charlie's and Maxine's demand for sandwiches follow this pattern, then both conform to the law of demand.

Table 4-7 The Demand Schedule Below Pertains to Sandwiches Demanded Per Week