Asked by Praise Jesus

The Law of Demand states that, other things unchanged (ceteris paribus), the quantity of a product demanded decreases when __________ increases.
Group of answer choices

income

the price of the product

the supply of the product

the price of a substitute for the product
Answered by GPT-4o mini
The Law of Demand states that, other things unchanged (ceteris paribus), the quantity of a product demanded decreases when **the price of the product** increases.

So the correct choice is **the price of the product**.