A negative relationship between price and quantity demanded implies that as price:
A) goes up, quantity demanded falls.
B) goes up, quantity demanded rises.
C) falls, quantity demanded falls.
D) falls, quantity demanded is unchanged.

Question

Quizplus · Accepted Answer

A negative relationship between price and quantity demanded, known as the law of demand, indicates that as the price of a good increases, the quantity demanded decreases.

A Negative Relationship Between Price and Quantity Demanded Implies That