186k views
0 votes
Price of McDonald's food goes up. What happens to the DEMAND for Burger king?

User Sebilasse
by
5.2k points

1 Answer

3 votes

Answer:

If the price goes up, the quantity demanded goes down (but demand itself stays the same). If the price decreases, quantity demanded increases. This is the Law of Demand. On a graph, an inverse relationship is represented by a downward sloping line from left to right.

User Clanket
by
5.2k points