which statement best explains the law of demand?\no the quantity demanded by consumers increases as prices…

which statement best explains the law of demand?\no the quantity demanded by consumers increases as prices rise, then decreases as prices fall.\no the quantity demanded by consumers decreases as prices rise, then increases as prices fall.\no the quantity demanded by producers increases as prices rise, then decreases as prices fall.\no the quantity demanded by producers decreases as prices rise, then increases as prices fall.

which statement best explains the law of demand?\no the quantity demanded by consumers increases as prices rise, then decreases as prices fall.\no the quantity demanded by consumers decreases as prices rise, then increases as prices fall.\no the quantity demanded by producers increases as prices rise, then decreases as prices fall.\no the quantity demanded by producers decreases as prices rise, then increases as prices fall.

Answer

Answer:

The quantity demanded by consumers decreases as prices rise, then increases as prices fall.

Brief Explanations:

The law of demand states an inverse relationship between price and quantity demanded by consumers. When prices go up, consumers buy less; when prices go down, consumers buy more. Producers are related to the law of supply, not demand.