What does the Law of Demand state? * When the price of something increases,

the quantity demanded increases When the price of something decreases,

the quantity demanded increases When the price of something increases,

the quantity demanded decreases When the price of something decreases,

the quantity demanded decreases

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Drake Patterson

28 May, 17:52

What does the Law of Demand state? * When the price of something increases,

the quantity demanded increases When the price of something decreases,

the quantity demanded increases When the price of something increases,

the quantity demanded decreases When the price of something decreases,

the quantity demanded decreases

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Reece · Answer 1

that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Demand curves and demand schedules are tools used to summarize the relationship between quantity demanded and price.