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arrow_back True/False. Consumers will be willing to pay any price a producer puts on a product; the demand will never cease.

by ♦ Platinum
(119,128 points)
in Economics and Finance recategorized by ♦ 104 views
True/False. Consumers will be willing to pay any price a producer puts on a product; the demand will never cease.

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Best answer
False.

The law of demand states consumers tend to buy more of a good or service when its price goes down, and less of a good or service when its price goes down. In other words, demand varies inversely with price.
by ♦ Diamond
(48,390 points)

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