The law of demand implies that:

Question

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The law of demand states that, all other things unchanged, consumers will buy more of a good at lower prices. This means that there is an inverse relationship between price and quantity demanded - as price goes down, quantity demanded goes up. Option A is incorrect because the law of demand assumes that consumers are responsive to price changes. Option C is incorrect because it refers to the law of supply, which states that sellers will offer more on the market at higher prices. Option D is also incorrect because it states the opposite of the law of supply - that sellers will offer less on the market at lower prices.

The Law of Demand Implies That