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Leya [2.2K]
3 years ago
8

Louie discovered that when he dropped the price of his paintings, more people were interested in buying. Louie is experiencing _

_______. A. mercantilism B. market price variations C. the law of supply D. the law of demand
Business
1 answer:
vampirchik [111]3 years ago
4 0

Answer:

. the law of demand

Explanation:

The law of demand proclaims that the demand for a product or service is indirectly related to its price. Demand is the quantity of a product that buyers are willing to purchase at a specific price over a period. Should the price of the goods or service increase, its demand decline. A reduction in price causes the demand to rise.

Louise is experiencing the law of demand in play. A drop in price is causing the demand to increase. More customers are finding the reduced price as a good value for their money. The group of customers who could not previously afford the painting can now buy them.

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Dafna1 [17]

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This is the option out of all that make sense, and i just took the test and it is correct.

7 0
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The viability and relevancy of insurance products sold to businesses and individual
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klasskru [66]

Answer:

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Explanation:

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7 0
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A new client of the member firm has just opened a margin account. After account approval, the client's initial trade is an order
Aleks04 [339]

Answer:

$2,000

Explanation:

Data provided in the question

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Price of common stock = $25

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7 0
3 years ago
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Annette [7]

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Explanation:

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