General Principles

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  Thời Gian Còn Lại


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Which of the following are correct regarding the laws of supply and demand? (I) The law of demand demonstrates an inverse relationship between the price consumers are willing to pay for a product and the amount they are willing to purchase. (II) Consumers are more responsive to price when substitutes are available. (III) The demand curve slows down and to the right, indicating that as price decreases, the quantity demanded increases. (IV) The demand curve slopes down and to the left, indicating that as price decreases, the quantity demanded decreases.

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