If the price of milk rose to $6 per gallon, consumers would purchase fewer gallons of milk than if the price were $2 per gallon. If the price of chocolate fell to $1.50 per piece, consumers would purchase more chocolate than if the price were $5 per piece. These relationships illustrate the___________.
as the law of demand states that the higher the price the lower the quantity that will be demanded, and the lower the price the higher the quantity that will be demanded
