What does the law of demand imply?
A) When price rises, quantity demanded falls.
B) When price rises, quantity demanded rises also.
C) When price falls, quantity supplied rises.
D) When price falls, quantity supplied falls also.
Correct Answer:
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Q18: Why does market price prevail in a
Q19: If buyers and/or sellers are price takers,
Q20: In what type of market do we
Q22: Which best describes the relationship shown by
Q23: Which of the following demonstrates the law
Q24: What impact would a higher price for
Q25: What is the market demand?
A) the sum
Q26: What is a table called that shows
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