Select all answers that apply. An increase in the price of a product will : Group of answer choices will reduce the amount of it purchased because of the Law of Demand reduce the amount of it purchased because consumers will substitute other products for the one whose price has risen. reduce the amount of it purchased because demand curves are downward sloping increase the amount of it purchased because suppliers want to sell more at higher prices reduce the amount of it purchased because suppliers need to sell less at higher prices increase the amount of it purchased because consumers want more of expensive products will increase the amount of it purchased because of the Law of Demand