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Question

Which statement best explains the law of demand? O The quantity demanded by consumers increases as prices rise, then decreases as prices fall. O The quantity demanded by consumers decreases as prices rise, then increases as prices fall. O The quantity demanded by producers increases as prices ise, then decreases as prices fall. O The quantity demanded by producers decreases as prices rise, then increases as prices fall.

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Casey

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The correct answer is The quantity demanded by consumers decreases as prices rise, then increases as prices fall. Explanation: The demand or desire of consumers to buy a certain product is widely affected by the price of the desired product. Indeed, a low price leads to a higher demand because consume