The Law of Demand Indicates That Price and Quantity Demanded

question 7

Multiple Choice

The law of demand indicates that price and quantity demanded are inversely related:

• A) when price increases, the quantity decreases.
• B) when price increases, the quantity demanded decreases.
• C) when price decreases, the demand decreases.
• D) when prices decreases, the quantity increases.

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Definitions:

Hybrid

A concept that combines two different elements or types to create something with mixed characteristics, often seen in technology, biology, and vehicles.

Lewis Structure

A diagram representing the distribution of electrons in the shells of atoms and the bonds between atoms in a molecule.

Pentane

A hydrocarbon with the formula C5H12, consisting of five carbon atoms linked together in a straight chain.

Condensed Structural Formula

A method of representing the molecular structure of a compound in a simplified manner, showing how atoms are bonded without detailing the actual bond locations.