This topic contains a solution. Click here to go to the answer

Author Question: The law of demand states that a. there is a positive relationship between price and quantity ... (Read 64 times)

torybrooks

  • Hero Member
  • *****
  • Posts: 500
The law of demand states that
 a. there is a positive relationship between price and quantity demanded
  b. price is the only factor that influences the quantity that people are willing and able to buy
  c. price and quantity demanded are inversely related
  d. the demand curve shifts whenever the price of a good changes
  e. by producing a product, firms create a demand for it

Question 2

The law of demand says that the lower the price of a good, other things constant,
 a. the smaller the demand for that good
  b. the larger the demand for that good
  c. the smaller the quantity demanded of that good
  d. the larger the quantity demanded of that good
  e. the smaller the real income of consumers and the lower the quantity demanded of that good



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joewallace

  • Sr. Member
  • ****
  • Posts: 337
Answer to Question 1

C

Answer to Question 2

D




torybrooks

  • Member
  • Posts: 500
Reply 2 on: Jul 1, 2018
Excellent


mochi09

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

For a complete list of videos, visit our video library