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kati45 [8]
2 years ago
9

The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and

when the price falls, the quantity demanded falls.
Business
1 answer:
oksano4ka [1.4K]2 years ago
5 0

The given statement about the law of demand is false and the appropriate law is explained below.

<h3>What is Law of Demand?</h3>

This refers to the economic principle which states that when there is an increase in demand for a product, then the price of the good will decrease.

With this in mind, we can see that the law of demand works with  the supply of goods as if for example there is an increase in price for a particular bar of soap, then the demand reduces.

Read more about law of demand here:
brainly.com/question/1078785

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Mrac [35]

Answer and Explanation:

a. 4. Common ion effect, this is due to reduction in common ion effect

b. 1. SOlubility as the salt would be dissolved in 100 ml of water

c. 5. Saturated solution as the solution would be dissolved completely

if any extra addition to be made than it would not dissolved

d.  3. Solubility product constant as it used the equation

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D

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3 years ago
There are three consumers in the market for playing cards: Don, John, and Ron. At a price of $2 per pack, the quantities demande
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Answer:

The correct answer is B. The decrease in price causes the quantity demanded in this market to increase by 6 packs.

Explanation:

quantity demanded in this market @ $2= 3+2+1=6

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3 years ago
A service station owner in Staten​ Island, New​ York, was worried that raising the price of gasoline would cause the quantity de
lara31 [8.8K]

Answer:

The demand for gasoline is elastic .

Explanation:

The elastic demand which is also termed as the price elasticity of demand, according to this concept the demand for a good is sensitive to changes in the price of goods, that means (according to this question ) if the prices of gasoline are increased by the service station owner, than the demand for gasoline would decrease . Here the demand would change by same percentage , that price would change.

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3 years ago
Dennisport Corporation has an acid-test ratio of 1.7. It has current liabilities of $56,000 and noncurrent assets of $87,000. Th
ra1l [238]

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Explanation:

Current liabilities = $56,000

Noncurrent assets = $87,000

First and foremost, we should note that:

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1.7 = Current Assets / $56,000

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Also,

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2.3 = Current Assets / $56,000

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2 years ago
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