Solved

The Principle That Consumers Tend to Buy Less of a Good

Question 50

Multiple Choice

The principle that consumers tend to buy less of a good or service when its price increases, all else held equal, is called the law of

A) preferences.
B) increasing cost.
C) demand.
D) supply.
E) maximum satisfaction.

Related Questions

Q45: For each of the following markets, indicate

Q46: According to the law of demand, if

Q47: With a single supply and demand diagram,

Q48: The high price of gasoline in the

Q49: The demand curve of good A is

Q51: Does the following condition violate the law

Q52: Suppose that hotdogs are inferior goods. Which

Q53: When economists say that the supply of

Q54: Consider the market for pop music played

Q55: Exhibit 3-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 3-3