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Lubov Fominskaja [6]
4 years ago
12

Which of the following examples demonstrates the law of demand?A) Mary buys fewer Milky Ways at $0.80 per Milky Way after the pr

ice of Snickers falls to $0.70 per Snicker.B) After Mark got a raise at work, he bought more cookies at $2.50 per cookie than he did before his raise.C) Kelvin buys more donuts at $0.80 per donut than at $0.95 per donut, other things equal.D) Amy buys fewer muffins at $2.00 per muffin than at $3.50 per muffin, other things equal.
Business
1 answer:
777dan777 [17]4 years ago
4 0

Answer:

The correct answer is letter "C": Kelvin buys more donuts at $0.80 per donut than at $0.95 per donut, other things equal.

Explanation:

The demand law states that if the price of a good or service decreases, the quantity demanded for that good or service will increase. On the other hand, if the price of a god or service increases, the quantity demanded will decrease. The price-quantity demanded of the demand law is inversely proportional, <em>ceteris paribus</em>.

Thus, Kelvin's case is an example of the demand law since he purchases more donuts when the price is lower ($0.80) and purchases fewer donuts when the price is higher ($0.95).

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