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What does Law of Demand state?



A. With the increase in price quantity increases
B. With the increase in price quantity decreases other things remaining the same.
C. Quantity does not change with any increase in price.
D. All of the above.

This question is part of Microeconomics Practice Test
Asked by Muhammadakram, Last updated: Mar 24, 2020

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3 Answers

John Adney

John Adney

Answered Oct 09, 2017

B. With the increase in price quantity decreases other things remaining the same.

 

kfelleng

Kfelleng

Answered Aug 28, 2017

Definetely true it is B.

_As the price of goods increases, the demand decreases.

 

John Smith

John Smith

Answered Sep 26, 2016

With the increase in price quantity decreases other things remaining the same.

Law of demand states that other things remaining the same every increase in price causes the quantity to be decreased and vice versa.
 

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