According to the law of demand, what generally happens when the price of a good decreases?

According to the law of demand, when the price of a good decreases, the quantity demanded generally increases. This principle is based on the idea that consumers tend to purchase more of a good when it becomes less expensive, as it is more accessible to a larger number of buyers. As the price falls, consumers see a greater value in the good compared to alternatives, leading to an increase in their willingness and ability to buy more of it.

This relationship reflects the inverse relationship between price and demand; as prices drop, the demand for that product typically rises, illustrating a fundamental concept in economics. Recognizing how consumers respond to price changes helps in understanding market dynamics and consumer behavior in economic theory.

The other options either contradict this principle or address other market conditions that do not directly involve the law of demand, thus affirming why the increase in quantity demanded with a decrease in price is the appropriate conclusion.