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

ID: 1190367 • Letter: T

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

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