question 3 1 pts the \law of demand\ refers to the fact that, other things remaining constent, when the…

question 3 1 pts the \law of demand\ refers to the fact that, other things remaining constent, when the price of a good rises, the demand curve shifts rightward. the demand curve shifts leftward. the demand curve shifts rightward and there is a movement up along the demand curve to a smaller quantity demanded. there is a movement up along the demand curve to a smaller quantity demanded. there is a movement down along the demand curve to a larger quantity demanded.

question 3 1 pts the \law of demand\ refers to the fact that, other things remaining constent, when the price of a good rises, the demand curve shifts rightward. the demand curve shifts leftward. the demand curve shifts rightward and there is a movement up along the demand curve to a smaller quantity demanded. there is a movement up along the demand curve to a smaller quantity demanded. there is a movement down along the demand curve to a larger quantity demanded.

Answer

Brief Explanations:

The law of demand states that, ceteris paribus (other things remaining the same), as the price of a good increases, the quantity demanded of that good decreases. This is represented by a movement along the demand curve. A shift of the demand curve occurs due to non - price factors such as changes in income, tastes, etc. When price rises, there is an upward movement along the existing demand curve to a lower quantity demanded.

Answer:

there is a movement up along the demand curve to a smaller quantity demanded.