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Homework answers / question archive / If price rises, what happens to demand for a product? A
If price rises, what happens to demand for a product?
A. It increases.
B. It decreases.
C. It does not change.
D. Uncertain-economic theory has no answer to this question
According to the law of demand there is a negative relationship between "price (P)" and the "quantity demanded (Qd)", where other factors affecting demand remains same, as "price (P)" rise the "demand for a good (Qd)" falls. So, the correct answer is "B".
