According to the law of demand, what happens when the price of a good rises?

Show Answers

Demand falls as the price goes upDemand drops as the price goes downDemand rises when the price increasesNone of the above

Explanation

The law of demand states that when the price of a product increases, the quantity demanded typically decreases (Option A). Conversely, if the price decreases, demand usually increases. Options B and C incorrectly describe these relationships, while Option D is not applicable.