Which of the following statements best represents the law of demand? If the price of sports shoes is $80 on average, Bella will purchase 2 pairs per year. If the price of sports shoes increases, Bella will purchase fewer pairs per year. Manufacturers of sports shoes increase their production as the price of those items rises. Bella gets a job with a company that has a stricter dress code and reduces her purchases of sports shoes to afford dressier shoes.
Which of the following statements best represents the law of demand? If the price of sports shoes is $80 on average, Bella will purchase 2 pairs per year. If the price of sports shoes increases, Bella will purchase fewer pairs per year. Manufacturers of sports shoes increase their production as the price of those items rises. Bella gets a job with a company that has a stricter dress code and reduces her purchases of sports shoes to afford dressier shoes.
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 1SQ
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Which of the following statements best represents the law of demand ?
If the price of sports shoes is $80 on average, Bella will purchase 2 pairs per year.
If the price of sports shoes increases, Bella will purchase fewer pairs per year.
Manufacturers of sports shoes increase their production as the price of those items rises.
Bella gets a job with a company that has a stricter dress code and reduces her purchases of sports shoes to afford dressier shoes.
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