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14 April, 19:33

What is the term economists use to refer to the relationship that a higher price leads to a lower quantity demanded?

law of demand

income gap

market equilibrium

price model

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  1. 14 April, 21:42
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    Answer: Law of demand

    Sometimes, a price decreases due to quantity demanded while the fall in price with increase to the quantity demanded. A higher price leads to the quantity demanded of a better service. Therefore, law of demand if your answer.
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