The first law of demand states that as price increases, less quantity is demanded. This is why the demand curve slopes down to the right. Because price and quantity move in opposite directions on the demand curve, the price elasticity of demand is always negative.
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Answer and Explanation:
Perfect competition is a competitive market where there is a very wide number of buyers and sellers who offer the same or similar goods with great product and service information. Furthermore, this sector has free entry and exit
So it is a perfectly competitive market, also it cannot influence the market price also there are price takers
Also the given statement is false as it represents the monopoly market not the perfect competition market
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Answer:
The answer is: C) A falling interest rate will lead to a movement along the demand curve for loanable funds
Explanation:
When you think about a loan, the interest rate is what you pay for getting the loan. So we can assume the interest rate is the price of the loan.
If the interest rates decrease, it is equivalent to a price decrease. Whenever the price of a good or service decreases, the quantity demanded for that good or service increases.
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