The law of demand states that
A) consumers with more income will spend more on goods and services.
B) a higher price will lead to increased sales.
C) the price can never be too high for some consumers.
D) quantity demanded of a good will vary inversely with the price of that good.
Correct Answer:
Verified
Q1: Q2: The relative price of a good is Q3: The concept of "demand" in economics refers Q4: The price of a smartphone increased from Q6: According to the law of demand, a Q7: The money price of a good is Q8: According to the law of demand, other Q9: A fundamental principle in demand analysis is Q10: Suppose that the price of cornflakes is Q11: In economics, "demand" refers to
A) what people
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