Question

What statements are true according to the law of demand

Answer 1

Step-by-step explanation:

• Law of demand states that at a higher price, consumers will demand a lower quantity of a good.
• If supply increases and demand stays the same, price will fall.
• If supply remains constant and demand decreases, price will fall.
• If supply decreases and demand stays the same, price will rise.
• If supply remains constant and demand increases, price will rise.