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Which of these statements best represents the law of demand? when buyers' tastes for a good increase, they purchase more of the good. when income levels increase, buyers purchase more of most goods. when the price of a good decreases, buyers purchase more of the good. when buyers' demands for a good increase, the price of the good increases?

Roger Moore

in Business

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Kyle Mckinney on October 1, 2018

when the price of a good decreases, buyers purchase more of the goodThe microeconomic law called law of demand is the concept that taking into account that all other aspects are equal, when the price of the goods or services increase, the demand of the consumers of such goods or services decrease. In the same way, as the price of the goods or services to decrease, consumers buy more of such goods and services.


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