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A rise in price causing quantity demanded to fall illustrates:

A rise in price causing quantity demanded to fall illustrates:
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Elastic supply
  • B Law of demand
  • C Price fixing
  • D Law of supply
Correct Answer: Option B
Explanation:
The law of demand states that quantity demanded falls when price rises, assuming other factors remain constant.

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