The law of demand states that consumers buy more of a good when its price declines:
A. because their income increases at the same time.
B. only if their income increases at the same time.
C. even if other demand determinants change at the same time.
D. provided all else remains constant.
Answer:D
The law of demand states that consumers buy more of a good when its price declines:
A. because their income increases at the same time. B. only if their income increases at the same time. C. even if other demand determinants change at the same time. D. provided all else remains constant.
Explanation: The law of demand states that more of a good will be demanded the lower its price, other things constant, and less of a good will be demanded the higher its price, other things constant.