asked 211k views
2 votes
What does the law of demand state?

a.When the price is higher, the quantity demanded is higher.
b.When the price is higher, the quantity supplied is lower.
c.When the price is lower, the quantity demanded is higher.

2 Answers

1 vote
B is the correct answer here
Hope this helps
answered
User Pengju Zhao
by
8.3k points
6 votes

Answer: Option 'B' and 'C' are correct.

Explanation:

"Law of demand" states all factors remains constant, price of commodity and the quantity demanded of that commodity is inversely related to each other."

So, it means if price of commodity rises, the quantity demanded will be decrease.

On the other hand, if price of commodity falls, the quantity demanded will be increase.

Hence, according to law we get that

Option 'B' and 'C' are correct.

answered
User Atul Agrawal
by
9.2k points

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