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The Figure Given Below Represents the PPC in Two Nations

Question 7

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The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4
The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4    -Which of the following statements correctly defines the law of demand? A) The lower the price of a commodity, the lower the quantity demanded of that commodity. B) As the price of a commodity increases, the quantity demanded of that commodity also increases. C) The lower the price of a commodity, the greater the quantity demanded of that commodity. D) The lower the price of a commodity, the greater the quantity supplied of that commodity. E) The quantity demanded of a particular good decreases with an increase in the price of a substitute good.
-Which of the following statements correctly defines the law of demand?


A) The lower the price of a commodity, the lower the quantity demanded of that commodity.
B) As the price of a commodity increases, the quantity demanded of that commodity also increases.
C) The lower the price of a commodity, the greater the quantity demanded of that commodity.
D) The lower the price of a commodity, the greater the quantity supplied of that commodity.
E) The quantity demanded of a particular good decreases with an increase in the price of a substitute good.

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