According to the law of demand, the ________ the price of a good, all other factors
remaining the same, the _________ the quantity demanded.
[1] higher; lower
[2] lower; lower
[3] higher; higher
[4] none of the above
According to the law of demand, there is an inverse relationship between the price and quantity, so the higher the price of a good, all other factors
remaining the same, the lower the quantity demanded.
So, the correct answer is [1].
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