The law of demand states that Oa. there is a direct relationship between the quantity demanded of a good and its price. b.as the price of a good rises, its demand will shift to the left. Oc. there is an indirect relationship between the quantity demanded of a good and its price. Od.as the price of a good rises, its demand will shift to the right. Oe. as the price of a good rises, consumers switch their purchases to a substitute good.

The law of demand states that Oa. there is a direct relationship between the quantity demanded of a good and its price. b.as the price of a good rises, its demand will shift to the left. Oc. there is an indirect relationship between the quantity demanded of a good and its price. Od.as the price of a good rises, its demand will shift to the right. Oe. as the price of a good rises, consumers switch their purchases to a substitute good.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 13RQ: What does a downward-sloping demand curve mean about how buyers in a market will react to a higher...

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