According to the law of demand,ceteris paribus,
A)The quantity demanded increases at lower prices.
B)A consumer will purchase more of a good at higher prices than at lower prices.
C)Price and quantity supplied are directly related.
D)The responsiveness of consumer demand to a change in the price of a good is measured by the price elasticity of demand.

Question

Quizplus · Accepted Answer

The law of demand states that ceteris paribus, as the price of a good or service increases, the quantity demanded decreases; conversely, as the price of a good or service decreases, the quantity demanded increases. So, choice A is the correct option.

According to the Law of Demand,ceteris Paribus