11 multiple choice 2 points the law of demand asserts that reducing the price of a good will cause: a. the…

11 multiple choice 2 points the law of demand asserts that reducing the price of a good will cause: a. the demand for the good to decrease. b. the supply of the good to increase. d. the demand for the good to increase. c. the supply of the good to decrease.

11 multiple choice 2 points the law of demand asserts that reducing the price of a good will cause: a. the demand for the good to decrease. b. the supply of the good to increase. d. the demand for the good to increase. c. the supply of the good to decrease.

Answer

Brief Explanations:

The law of demand states that, ceteris paribus (all other things being equal), as the price of a good decreases, the quantity demanded of that good increases. It focuses on the relationship between price and quantity demanded, not supply.

Answer:

d. the demand for the good to increase.