When the price of ice cream falls, we would expect the quantity demanded of ice cream to rise, ceteris paribus.

Question

Quizplus · Accepted Answer

This is the law of demand, which states that when the price of a good decreases, the quantity demanded of that good increases, assuming all other factors remain constant (ceteris paribus). As the price of ice cream falls, consumers are more likely to buy it, leading to an increase in demand.

When the Price of Ice Cream Falls, We Would Expect