The law of demand is based on the observation that
A) people buy less of a product when the product becomes less fashionable.
B) people buy more of a product when its price falls.
C) people are indifferent to price changes.
D) people always want more than they need.
Correct Answer:
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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
Q12: Which of the following is an example
Q14: The law of demand states that
A) people
Q15: The demand curve is downward sloping because
A)
Q16: The money price of a good is
Q17: The only variable that can affect a
Q18: The law of demand tells us that
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