Which of the following examples illustrates the law of demand? An increase in tuition encourages more students to enroll in college because the
A)quality of education has risen.
B)Consumers buy more personal computers because prices have fallen.
C)Oil companies drill for new sources of oil because oil prices are
D)higher.Fewer people play golf because incomes are lower.

Question

Quizplus · Accepted Answer

According to the law of demand, as the price of a product decreases, the quantity demanded increases. In this case, the lower prices of personal computers are encouraging consumers to buy more of them. The other choices do not illustrate the law of demand.

Which of the Following Examples Illustrates the Law of Demand