Which of these statements best represents the law of demand?
a. When buyers' tastes for a good increase, they buy more of the good
b. When the size of the consumer population rises, buyers purchase more of most goods.
c. When the price of a good decreases, buyers purchase more of the good.
d. Changes in preferences lead to changes in demand.
c
Economics
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Inventory reductions caused by strong demand are signals to retailers to order more products
a. True b. False Indicate whether the statement is true or false
Economics
If MV rises from 250 to 375,
A. PQ will fall by 50%. B. PQ will remain the same. C. PQ will rise by 50%. D. PQ will rise by 100%.
Economics