📊 MicroEconomics, Theory and Applications 1
Q. The law of demand states that an increase in the price of a good:
  • (A) increases the supply of that good.
  • (B) decreases the quantity demanded for that good.
  • (C) increases the quantity supplied of that good.
  • (D) none of these answers.
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✅ Correct Answer: (B) decreases the quantity demanded for that good.

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