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egoroff_w [7]
3 years ago
8

The law of demand is the assertion that A. changes in price and changes in quantity demanded move in the same direction. B. the

demand for a product is negatively related to its price. C. the quantity demanded of a product is inversely related to its price. D. the quantity demanded of a product is directly related to its price.
Social Studies
1 answer:
vlada-n [284]3 years ago
6 0

Answer:

(C). the quantity demanded of a product is inversely related to its price.

Explanation:

According to the law of demand, <u>when the price of a product is high, the quantity of that product that will be demanded will be low</u>, because customers won't want to pay so much to get the product.

Similarly, <u>when the price of the product drops, the the demand for it will increase.</u>

Therefore the quantity of a product demanded is inversely related to its price.

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