Question

The law of demand states that as price increases, quantity demanded decreases. However, the amount that quantity demanded changes in response to a change in price varies from good to good. What are some factors that determine how much quantity demanded will change when price changes?

Answer 1

Answer:

The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. This occurs because of diminishing marginal utility

Explanation:

Answer 2

Answer:

IT WILL increase

Explanation:

as they get more quantity it will increase in price

these factors are because suppliers have an increased interest in producing goods to generate higher amounts of revenue.

This is a basic principle of the law of supply and demand.