Which of the following demonstrates the law of demand? a. After Jon got a raise at work, he bought more pretzels at $1.50 per pretzel than he did before his raise. b. Melissa buys fewer muffins at $0.75 per muffin than at $1 per muffin, other things equal. c. Dave buys more donuts at $0.25 per donut than at $0.50 per donut, other things equal. d. Kendra buys fewer Snickers at $0.60 per Snickers after the price of Milky Ways falls to $0.50 per Milky Way

Question

Business

Trevon Byrd

10 December, 15:35

Which of the following demonstrates the law of demand? a. After Jon got a raise at work, he bought more pretzels at $1.50 per pretzel than he did before his raise. b. Melissa buys fewer muffins at $0.75 per muffin than at $1 per muffin, other things equal. c. Dave buys more donuts at $0.25 per donut than at $0.50 per donut, other things equal. d. Kendra buys fewer Snickers at $0.60 per Snickers after the price of Milky Ways falls to $0.50 per Milky Way

+4

Answers (1)

Know the Answer?

Estrella Martin · Answer 1

C.

Explanation:

The law of demand states that when the price of a good or service increases, the quantity demanded decreases and when the price decreases the quantity demanded increases (other things constant).

Is not option A because it says changes in income and not changes in prices. Is not option B because it says the opposite that the law of demand states: when the muffins price is low, Melissa buys fewer than when the price is high. Is not option D because the law of demand is not directly related with substitute goods. It is option C because when the price is low ($0.25) Dave buys more donuts than when the price is high ($0.50)