Log in
Economics
1
answer
0
watching
117
views

The "law of demand" states that changes in

A) demand is related directly to changes in supply.

B) the quantity demanded of a good is not related to changes in the quantity supplied.

C) the quantity demanded of a good is inversely related to changes in its price.

D) demand is inversely related to changes in supply. 

Watch
1
answer
0
watching
117
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Divya Singh
Divya SinghLv10
17 Jan 2021

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

The typical supply curve illustrates that:

A) other things equal, the quantity supplied for a good is inversely related to the price of a good.

B) other things equal, the supply of the good creates its own demand for the good.

C) other things equal, the quantity supplied for a good is positively related to the price of a good.

D) price and quantity supplied are unrelated.

The typical supply curve illustrates that:

A) other things equal, the quantity supplied for a good is inversely related to the price of a good.

B) other things equal, the supply of the good creates its own demand for the good.

C) other things equal, the quantity supplied for a good is positively related to the price of a good.

D) price and quantity supplied are unrelated. 

Match the following terms with their proper definitions.
Potential Matches:
1 : measures the responsiveness of the quantity supplied of a good to changes in the price of that good
2 : a formula that measures the responsiveness along a specific section (arc) of a supply or demand curve and measures the "average" price elasticity between two points on the curve.
3 : measures the responsiveness of the quantity supplied of a good to changes in the price of the related good
Answer
: Own-Price Elasticity of Supply
: Cross-Price Elasticity of Supply
: Arc Elasticity

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in