which of the following is consistent with the law of demand?\na. airplanes flew with more passengers after…
which of the following is consistent with the law of demand?\na. airplanes flew with more passengers after deregulation of airlines.\nb. an increase in the supply of oranges causes a decrease in the consumption of oranges.\nc. a doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased.\nd. the state of washington has less apple - regulation than california, and apple production is higher in california.
Answer
Brief Explanations:
The law of demand states that, ceteris paribus, as the price of a good increases, the quantity demanded of that good decreases, and vice - versa. Option C shows that when the price of salt doubles (price increase), there is a 5 percent drop in the quantity of salt purchased (quantity demanded decreases), which is consistent with the law of demand. Option A is about airline deregulation and passenger numbers, not price - quantity relationship. Option B is about supply and consumption, not the price - quantity relationship of demand. Option D is about regulation and production levels, not demand.
Answer:
C. A doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased