yo1l6ancocoCgabbtine
Answered

The law of demand states that:

AA decrease in supply of a good will lead to a decrease in demand for that good.
BAn increase in the price of a good will lead to a decrease in consumer demand, and a decrease in the price of a good will lead to an increase in consumer demand.
CAn increase in supply of a good will lead to a decrease in demand for that good.
DAn increase in income will lead to a decrease in demand, and a decrease in income will lead to an increase in demand.

Verified Answer :

WarLord

The answer is B. An increase in the price of a good will lead to a decrease in
consumer demand, and a decrease in the price of a good will lead to an
increase in consumer demand.

Related Questions