Question

According to the law of demand, as prices decrease, the quantity demanded.

Answer 1

According to the law of demand, as prices decrease, the quantity demanded increases.

What does the law of demand imply?

The law of demand implies that the quantity demanded of a good or service varies inversely with price.

Higher prices reduce the demand while lower prices increase the demand.

This law of demand holds until the equilibrium price is attained.

Thus, according to the law of demand, as prices decrease, the quantity demanded increases.

Learn more about the law of demand and supply at brainly.com/question/8886679

Answer 2

Answer:

The law of demand states that as the price of a good decrease, the quantity demanded of that good increases. In other words, the law of demand states that the demand curve, as a function of price and quantity, is always downward sloping.

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