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Suppose all prices decrease by 5 percent in the year while the total sales of laptops remain constant. This is

Jeslinn

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Suppose all prices decrease by 5 percent in the year while the total sales of laptops remain constant. This is

Suppose all prices decrease by 5 percent in the year while the total sales of laptops remain constant. This is
A) a violation of the law of demand since fewer laptops should be purchased at a higher price.
B) a violation of the law of demand since more laptops should have been purchased with higher incomes.
C) not a violation of the law of demand since the relative price of laptops did not change.
D) not a violation of the law of demand since the law of demand does not apply to expensive goods like laptops.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 105 times

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