The Law of Demand States That, If Nothing Else Changes

question 55

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.

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