Westonci.ca is the ultimate Q&A platform, offering detailed and reliable answers from a knowledgeable community. Explore thousands of questions and answers from a knowledgeable community of experts on our user-friendly platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.
Sagot :
Answer:
C
Explanation:
If the market price of a good increases, quantity demanded decreases and quantity supplied increases. This is in line with the law of demand and supply respectively.
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
In the case when there is an increment in the market price so here quantity demanded should reduced.
Increment in market price:
In the case when the market price of a good increase, quantity demanded reduced and at the same time quantity supplied increases. As this represent the law of demand function. But as per law of supply it shows the direct relationship between supply and price.
learn more about quantity demanded here: https://brainly.com/question/19271292
We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.
