STSTEER

Law of Demand

Predicting the direction of a quantity (or price) change implied by the law of demand.

Question template

Consider that Maria is observing the price of a mutual fund. The initial price of the mutual fund is start price, and the quantity demanded is start quantity. Assume nothing else that affects demand has changed (incomes, tastes, the prices of other goods), so the change is a movement along an unchanged, downward-sloping demand curve; exactly one of the values below is consistent with this. If the price increases to end price, what is the most likely new quantity demanded?

Use it

from datasets import load_dataset
ds = load_dataset("narunraman/steer_me", "law_of_demand")