Multiple Choice
The law of demand states that, if nothing else changes,
A) a rise in the price of a product or service causes a decrease in quantity demanded.
B) a rise in the price of a product or service causes a decrease in quantity supplied.
C) an increase in incomes causes a decrease in quantity demanded.
D) a rise in the price of a product or service causes an increase in quantity demanded.
E) an increase in incomes causes an increase in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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