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2) What happens to the quantity demanded' when the price of a good, service, or product increases?

2) What happens to the quantity demanded' when the price of a good, service, or product increases?
asked 202k views
3 votes
2) What happens to the quantity demanded' when the price of a good, service, or

product increases?

asked
User Owo
by
7.7k points

1 Answer

5 votes

Answer:

The price of a good or service in a marketplace determines the quantity that consumers demand.

Step-by-step explanation:

A higher price results in a lower quantity demanded and a lower price results in higher quantity demanded.

answered
User RetnuH
by
7.9k points
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