According to the law of demand,an increase in the price of Pepsi will

Name: According to the law of demand,an increase in the price of Pepsi will
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the law of demand, there is an inverse relationship between the price of a good and the quantity demanded of that good. As the price of Pepsi increases, consumers are likely to switch to other similar products, thereby reducing their demand for Pepsi. Hence, an increase in the price of Pepsi will decrease the quantity of Pepsi demanded.

According to the Law of Demand,an Increase in the Price