which statements are true according to the law of demand? an increase in supply leads to an increase in…

which statements are true according to the law of demand? an increase in supply leads to an increase in demand. a decrease in supply leads to a decrease in demand. an increase in price leads to a decrease in quantity demanded. a decrease in price leads to an increase in quantity demanded.

which statements are true according to the law of demand? an increase in supply leads to an increase in demand. a decrease in supply leads to a decrease in demand. an increase in price leads to a decrease in quantity demanded. a decrease in price leads to an increase in quantity demanded.

Answer

Brief Explanations:

The law of demand states that, ceteris paribus, there is an inverse relationship between the price of a good and the quantity demanded. An increase in price makes the good relatively more expensive, so consumers demand less, and a decrease in price makes it relatively cheaper, so consumers demand more. Supply - demand relationships are different from the law of demand.

Answer:

C. An increase in price leads to a decrease in quantity demanded. D. A decrease in price leads to an increase in quantity demanded.