Which of the Following Is an Example of the Law

question 244

Multiple Choice

Which of the following is an example of the law of demand?

• A)A decrease in the price of milk is followed by an increase in milk purchases.
• B)A decrease in the price of milk is followed by a decrease in milk purchases.
• C)An increase in the price of milk has no effect on the amount of milk purchased.
• D)The amount of milk purchased increases when the price is constant.

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Definitions:

CD-Rom Drives

Devices that read information stored on Compact Discs, primarily used for retrieving, transferring, or storing digital data.

Tariffs

Levies applied by a government on imports from foreign countries, typically to safeguard local industries.

United States

A nation situated in North America, recognized for its vast economy and varied populace.

Quantity Demanded

The aggregate quantity of a product or service that buyers are prepared to buy at a specified price within a certain timeframe.