_____ manifests when the price of a good increases and the quantity demanded decreases
A)Efficiency
B)The law of demand
C)The supply schedule
D)The production possibilities frontier

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good increases, the quantity demanded will decrease. This is a fundamental principle in economics, and it is seen in many different markets and situations. Understanding the law of demand is important for businesses, policymakers, and individuals who are trying to make decisions about what to buy or sell, and how much to charge or pay for goods and services.

_____ Manifests When the Price of a Good Increases and the Quantity