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 61 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
Gracias!


tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

For a complete list of videos, visit our video library