📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store

    • Question

      In a typical demand schedule, quantity demanded varies

      A directly with price Correct Answer Incorrect Answer
      B proportionately with price Correct Answer Incorrect Answer
      C inversely with price Correct Answer Incorrect Answer
      D independent of price Correct Answer Incorrect Answer

      Solution

      In a typical demand schedule, quantity demanded varies inversely with price. The law of demand states that a higher price typically leads to a lower quantity demanded.

      Practice Next
      ask-question