Law of Demand
Which of the following is not a determinant of demand?
Cosr of production
The law of demand states that as the price of a particular good or service increases, blank.
Quantity demanded decreases
Sunscreen and beach towels are complementary goods. If the price of sunscreen increases, ceteris paribus, blank.
The quantity demanded of beach towels will decrease for every possible price
As the price of a good increases, all being equal, consumers will likely purchase blank.
Less of the good because substitutes have become relatively less expensive
Teenaged frequently purchase similar shoes from one to two major competing shoe manufacturers. If the price of one manufacturer's shoes increases dramatically, teenagers are likely to purchase blank.
More shoes from the competing manufacturer at any given price, as the two brands are substitutes
