If the price of apple increases, which of the following is most likely to occur? A. Quantity of apple demanded will decrease B. Quantity of apple demanded will increase C. Demand of apple will increase D. Demand of apple will decrease

Respuesta :

Answer:

A. Quantity of apple demanded will decrease

Explanation:

The law of demand states that when all things are equal, when there is an increase in price there is a reduction in quantity demanded.

This is illustrated in the attached diagram

For example looking at two commodities - cooking gas and kerosene. Of the price of cooking gas goes up, people will rationally go for a lower priced alternative (kerosene). This will reduce the amount of cooking gas bought.

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