ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Law of Demand states that the quanity demanded increases as the price ____
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increases
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stays the same
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held constant
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decreases
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Explanation:
Detailed explanation-1: -Key points. The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Demand curves and demand schedules are tools used to summarize the relationship between quantity demanded and price.
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