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2 years ago

The law of demand states that, other things equal, when the price of a good.

Business

1 answer:

babunello [35]2 years ago

4 0

The law of demand states that when the price of a good increases, the quantity demanded decreases.

<h3>What is the law of demand?</h3>

The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. The quantity demanded of a good is inversely related to the price of the good. This explains why the demand curve is downward sloping.

For example, if the price of a shoe increases, the quantity demanded of the good decreases.

For more information about demand, please check: brainly.com/question/25871620

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Explanation:

Using a financial calculator, input the following using CF function;

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