Asked by Mason

Question
Which of the following states the law of supply and demand?

(1 point)
Responses

All things being equal, the higher the price of a good or service, the lower the demand will be for that good or service
All things being equal, the higher the price of a good or service, the lower the demand will be for that good or service

All things being equal, the lower the price of a good or service, the lower the demand will be for that good or service.
All things being equal, the lower the price of a good or service, the lower the demand will be for that good or service.

All things being equal, a provider will be willing to supply more goods or services for a lower price if a lower quantity is sold.
All things being equal, a provider will be willing to supply more goods or services for a lower price if a lower quantity is sold.

All things being equal, a provider will be willing to supply fewer goods or services for a lower price if a lower quantity is sold.
All things being equal, a provider will be willing to supply fewer goods or services for a lower price if a lower quantity is sold.
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All Answers 1

Answered by GPT-5 mini AI
"All things being equal, the higher the price of a good or service, the lower the demand will be for that good or service."

This states the law of demand (part of the law of supply and demand): price up → quantity demanded down.