The "law of demand" indicates that if the University of Maine increases tuition,all other things remaining the same,
A) the demand for classes will decrease at the University of Maine.
B) the demand for classes will increase at the University of Maine.
C) the quantity of classes demanded will increase at the University of Maine.
D) the quantity of classes demanded will decrease at the University of Maine.
E) both the demand for and the quantity of classes demanded will decrease at the University of Maine.

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good or service increases, the quantity demanded of that good or service will decrease. Therefore, if the University of Maine increases tuition, the price of classes will increase, and the quantity of classes demanded will decrease. This is represented by choice D.

The "Law of Demand" Indicates That If the University of Maine