The law of demand says that, holding everything else constant, when the price of a good increases, the amount buyers buy will decrease, and when the price of a good decreases, the amount buyers buy will increase. To hold everything else constant means to use the ceteris paribus condition.
If we change one of these things we were holding constant, which is the most likely result?
A- demand for the good will either increase or decrease
B- producers will not know how much of a good to make
c- consumers will not change their purchasing behaviors
d- a price ceiling will need to be implemented
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The law of demand says that, holding everything else constant, when the price of a good increases, t...
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