The law of demand states that: A. The demand for a good will decrease if the sup

Question

The law of demand states that: A.  The demand for a good will decrease if the supply of the good decreases B.  The price of a good and the quantity of the good demanded are positively related C.  When consumer income increases, the demand for a normal good increases D.  None of these statements is correct E.  When the price of a good falls, the quantity of the good demanded increases The law of demand states that: A.  The demand for a good will decrease if the supply of the good decreases B.  The price of a good and the quantity of the good demanded are positively related C.  When consumer income increases, the demand for a normal good increases D.  None of these statements is correct E.  When the price of a good falls, the quantity of the good demanded increases

Explanation / Answer

E.  When the price of a good falls, the quantity of the good demanded increases

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