halom16 halom16

Today at 11:18 PM
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Which statement best explains the law of demand?

A. The quantity demanded by consumers increases as prices rise, then decreases as prices fall.

B. The quantity demanded by consumers decreases as prices rise, then increases as prices fall.

C. The quantity demanded by producers increases as prices rise, then decreases as prices fall.

D. The quantity demanded by producers decreases as prices rise, then increases as prices fall.

Answer :

janant2019 janant2019

Today at 11:22 PM

B is right just took the test

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Parrain Parrain

Today at 11:22 PM

The best explanation for the law of demand is B. The quantity demanded by consumers decreases as prices rise, then increases as prices fall.

Law of Demand

Explains the relationship between quantity demanded and price.
Shows that for a normal good, quantity demanded and price have an inverse relationship.

This means that when the price of a good rises, the quantity demanded of that good will fall. The reverse is true.

In conclusion, option B is correct.

Find out more on the law of demand at https://brainly.com/question/24500422.

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