if price of a good rises, what happens to quantity demanded for that good? a.it does not change. b.it decreases. c.the answer depends upon the supply of the good. d.it increases.

Respuesta :

The correct option is (B) decreases.

How does change in the price of good affects the quantity demand?

One of the earliest theories in economics is the law of demand. It combines with the law of supply to explain how market economies distribute resources and establish the costs of the goods and services we use on a daily basis. The quantity bought varies inversely with price, according to the rule of demand. To put it another way, demand decreases as price increases. Marginal utility is what causes this to happen. In other words, customers utilize the initial units of an economic good they buy to fulfill their most pressing demands first, and then they use every additional unit to fulfill progressively lower-value goals.

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