Multiple Choice
Which statement expresses the law of demand?
A) There is a positive relationship between price and consumer surplus.
B) There is a positive relationship between price and quantity that buyers are willing and able to purchase.
C) There is an inverse relationship between the willingness to pay and the ability to pay.
D) There is a negative relationship between price and quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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