The law of demand states that
a. quantity demanded is inversely related to price
b. quantity demanded is directly related to income
c. marginal utility is inversely related to quantity consumed
d. total revenue is directly related to price
e. demand curves are linear
A
Economics
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The law of diminishing marginal utility guarantees that demand curves will have positive slopes
a. True b. False Indicate whether the statement is true or false
Economics
A quota is
A) a limit placed on the quantity of goods that can be imported into a country. B) a tax imposed by a government on goods imported into a country. C) a subsidy granted to importers of a vital input. D) a health and safety restriction imposed on an imported product.
Economics