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Title: According to the law of demand, the higher the price, the lower the quantity demanded. But, five yea Post by: Sublight2097 on Jun 20, 2015 According to the law of demand, the higher the price, the lower the quantity demanded. But, five years ago the Dropouts used to sell only 50 tickets for their shows at $5 each. Today they sell 5000 tickets at $20 each. Does the change described above contradict the law of demand?
A) Yes, because the price has fallen and the quantity demanded has fallen. B) Yes, because the price has risen and the quantity demanded has risen. C) No, because the supply has risen. D) No, because other things weren't constant. Title: Re: According to the law of demand, the higher the price, the lower the quantity demanded. But, five Post by: Smoooth on Aug 12, 2015 Content hidden
Title: Re: According to the law of demand, the higher the price, the lower the quantity demanded. But, five yea Post by: Sublight2097 on Aug 31, 2015 Seriously, you've been tremendously helpful! Thank you.
Title: Re: According to the law of demand, the higher the price, the lower the quantity demanded. But, five yea Post by: Smoooth on Aug 31, 2015 You're welcome :-]
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