QuestionJuly 15, 2025

An increase in the price for bananas will decrease the demand for bananas. True False

An increase in the price for bananas will decrease the demand for bananas. True False
An increase in the price for bananas will decrease the demand for bananas.
True
False

Solution
4.5(296 votes)

Answer

True Explanation 1. Define the Law of Demand According to the law of demand, when the price of a good increases, the quantity demanded typically decreases, assuming all other factors remain constant. 2. Apply the Law to Bananas An increase in the price for bananas will lead to a decrease in the demand for bananas based on the law of demand.

Explanation

1. Define the Law of Demand<br /> According to the law of demand, when the price of a good increases, the quantity demanded typically decreases, assuming all other factors remain constant.<br /><br />2. Apply the Law to Bananas<br /> An increase in the price for bananas will lead to a decrease in the demand for bananas based on the law of demand.
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