Question

which explains why the price indicated by p2 on the graph is higher than the equilibrium price? as prices rise, quantity demanded goes up. as prices rise, quantity demanded goes down. as prices rise, quantity demanded stays the same. as prices rise, quantity demanded disappears.

Explanation:

Based on the law of demand, there is an inverse relationship between price and quantity demanded. When the price is above the equilibrium price (such as p2), consumers are less willing and able to buy, so quantity demanded decreases.

Answer:

As prices rise, quantity demanded goes down.