The law of demand states that the increase in the price of a good causes a resultant decrease in the quantity demanded of the good.
<h3>The law of demand</h3>
According to this law, when the price of a good is increased, ity would reduce the purchasing power of the users of the good. They would be able to buy only less of it.
But a price drop woukd make people to accumulate more of a good.
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Answer:
Of
Explanation:
the correct term in a sentence
Answer:
D. Both b) and c) are correct.
Explanation:
Consumer surplus is the difference between the total profit we get from service and its market price. This means that the first unit to acquire we value it highly but as we acquire additional units our valuation falls. However, the price we pay for any unit is always the same.
Thanks for your question!
Answer:
l think its answer is option 1
