tgirl79 tgirl79

23-10-2017
Business

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Economists refer to the relationship that a higher price leads to a lower quantity demanded as the _____________.
a. market equilibrium
b. price model
c. income gap
d. law of demand

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02-11-2017

Answer: d

Explanation:
According to economics, the demand for goods and services decreases when the cost of goods and services increases, and vice versa.
The law assumes that no other factors influence the relationship between the cost of paying for goods and services.

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