Table 4-1 $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Price } \ \text { (Dollarsper unit) } \end{array} & \begin{array} { c } \text { Quantity Demanded } \ \text { (Units) } \end{array} \ \hline 16 & 80 \ \hline 21 & Q _ { 1 } \ \hline \end{array}$$ -Refer to Table 4-1. If the law of demand applies to this good, then Q₁ could be A)70. B)100. C)110. D)130.

Question

Quizplus · Accepted Answer

The law of demand states that there is an inverse relationship between price and quantity demanded. Since the price increases from $16 to $21, the quantity demanded should decrease, making 70 a possible lower quantity demanded than 80.

Table 4-1 ​ ​ -Refer to Table 4-1

Table 4-1

-Refer to Table 4-1