The law of demand states that other things being equal there is?
A. An inverse relationship between the quantity demanded and income of the consumer
B. A positive relationship between the quantity demanded and its price
C. An inverse relationship between the rate of change in the quantity demanded and the price of the commodity
D. An inverse relationshhip between the quantity demanded and its average cost of production. (188)
Answer:A
The law of demand states that other things being equal there is?
A. An inverse relationship between the quantity demanded and income of the consumer B. A positive relationship between the quantity demanded and its price C. An inverse relationship between the rate of change in the quantity demanded and the price of the commodity D. An inverse relationshhip between the quantity demanded and its average cost of production. (188)