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, the quantity of salt purchased drops by 5 percent, which is consistent with the law of demand. Option A is about deregulation and passenger numbers, not price - quantity relationship. Option B is about supply and consumption, not the price - quantity relationship described by the law of demand. Option D is about regulation and production, not related to the law of demand.
Answer:
C. A doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased.