Close Contents Introduction Podcast Beta Questions and Answers More Actions PDF Questions Make a copy Study Flashcards Play Quiz Podcast Beta Play an AI-generated podcast conversation about this lesson 0.7x 0.9x 1x 1.1x 1.3x 1.5x 1.7x 2x Questions and Answers Download PDF PDF Questions PDF Answers Which of the following statements about the law of demand is true? As the price of a good increases, the quantity demanded decreases. (correct) The law of demand states that supply increases as demand increases. The law of demand does not apply to essential goods. The law of demand suggests that price and quantity demanded are directly related.