1. According to the law of ________, there is an inverse relationship between price and ________.

Select one:

a. supply; the quantity supplied

b. demand; change in demand

c. demand; quantity demanded

d. supply; the change in supply

2.

The table belowshows the market behavior of consumers of pens and pencils.

price of quantity of quantity of consumers' price of date PENS PENS average PENS PENCILS demanded supplied income Jan $1.25 1100 units 800 units $34,000/year $0.35 each 2016 each Jan $2.50 750 units 1200 units $42,000/year $0.70 each 2017 each