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The law of demand states that

The law of demand states that
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Solution Guide / Answer Key:

ECONOMICS

Multiple Choice

           The law of demand states that

a.

there is a positive relationship between price and quantity demanded

b.

price is the only factor that influences the quantity that people are willing and able to buy

c.

price and quantity demanded are inversely related

d.

the demand curve shifts whenever the price of a good changes

e.

by producing a product, firms create a demand for it

 

           FILE: MS WORD

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