According to the Law of Demand,if a Firm Reduces the Price

question 14

Multiple Choice

According to the law of demand,if a firm reduces the price of its good:

• A)consumers in the market will demand more units of the good.
• B)some consumers will exit the market.
• C)consumers will demand fewer units than before the price cut.
• D)the quantity of goods produced and sold by the firm will decline.
• E)competing firms will increase prices.

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