Ask Question
Today, 14:59

Suppose the price of eggs decreases from $5 per dozen to $4 per dozen. According to the law of -, we should expect the - to increase.

+3
Answers (1)
  1. Today, 17:49
    0
    Demand; Quantity Demanded

    Explanation:

    According to the law of demand,

    Law states that there is a negative or inverse relationship between the price of the good and the quantity demanded for that good which means that an increase in the price of a good will result in a fall in quantity demanded for that good and a decrease in the price level of the good will result in an increase in the quantity demanded for that good.

    In our case, the price of eggs falls from $5 per dozen to $4 per dozen then as a result there is an increase in the quantity demanded for the eggs.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose the price of eggs decreases from $5 per dozen to $4 per dozen. According to the law of -, we should expect the - to increase. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers