Answer:
C. When the price is lower, the quantity demanded is higher
Step-by-step explanation:
The law of demand states that all other things remaining constant the quantity demanded of a product is inversely proportional to price of the product. This means, if the prices are higher then the quantity demanded is lower and if the prices are lower than the quantity demanded is higher.
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Answer:
The answer would be C
Step-by-step explanation:
The law of demand states that other factors being constant, price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.
A. When the price is higher, the quantity demanded is higher.
B. When the price is higher, the quantity supplied is lower. -not correct on Plato Note that this says supplied, not demand
C. When the price is lower, the quantity demanded is higher. - this is the reverse effect of the law. Product price increase, demand falls Product price decreases, demand increases
