Which of the following is an example of the law of demand?
A)A decrease in the price of milk is followed by an increase in milk purchases.
B)A decrease in the price of milk is followed by a decrease in milk purchases.
C)An increase in the price of milk has no effect on the amount of milk purchased.
D)The amount of milk purchased increases when the price is constant.

Question

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a good decreases, the quantity demanded increases, and vice versa.

Which of the Following Is an Example of the Law